Analysts - how much are you contributing to your 401k
Title says it all. How much are analysts contributing to their 401K per paycheck? Anyone doing the 18-20% to max it out of their base?
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Know lots of people that max it out of their base, either way unless you have a bad loan situation every analyst should 100% be maxing their 401k
Why would you ever contribute to your 401k lol, I took all my savings from my stub and left over salary and dumped it into a property, 10% down payment in my hometown and it's doing better than whatever 8% yield some dumb ass BlackRock mutual fund could ever do
Are u retarded
are YOU retarded? Do you ever actually bother to check what the time value of money is like in 401ks? Americans are such good guinea pigs it's hilarious "HAHA DUMBASS, I'M THE SMART ONE, YOU SEE MY MONEY IS NOW LOCKED UP FOR 40 YEARS!!!!! HAHA" fucking retard, I already own a property producing clean cash flow NOW, not money that I can withdraw when I'm 57.5 or whatever, do better...
Im doing 16% roth 401k currently. All in sp500 index
12%, thinking of filling the rest from bonus money.
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I don’t know why this continues to be such a common misunderstanding on this forum.
Bonuses are not taxed more than your base, your firm just withholds more as the payroll system assumes that large bonus is a regular occurring payment.
At the end of the day, you will owe the same amount of taxes for a year, regardless of base or bonus. So by doing it out of base or bonus you are only changing how much is withheld, not changing anything about the total amount of taxes you will pay over a year.
Call me stupid but someone told me that the city or state of NY does do a lump sum payment tax though, which brings total taxable rate on bonuses over 50%?
Max out with that bonus, breh. 401(k) and ROTH conversion of the super mega back-door variety.
Do you do traditional or Roth 401k
Both
Don't. It's a scam in my eyes. The world has changed too much. So much opportunity out there. To leave it all locked up in some fund that gives a measly 7% is pathetic imo
Based, although you should be contributing at least whatever your company will match as it’s an automatic doubling of your contribution. Most places won’t match until you’ve been with them for a year.
Yes of course. Match is a free 100% return and does really build up overtime. There's just no need to be piling in your hard earned money into an outdated vehicle. The world is your oyster. Manifest greatness and get after your dreams is my mantra.
two people said this exact same thing and got MS'd wtf?
How much employer match do most IBs do? Anyone care to share specifics
HW is 4% match but vests after 3 years
Citi is 100% up to 6% of base salary with 1 year vest.
Based on the responses, I wouldnt take financial advice here
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