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?
Trending Content - Investment Banking Forum
| +79 | Restructuring is paradise (a completely unbiased account) | 6 | 5d |
| +40 | Not Treated Well by Other Interns | 22 | 1h |
| +36 | Taking days off as an intern | 18 | 2h |
| +26 | Best IB Group Overall? | 15 | 1h |
| +23 | Incoming freshman at a semi-target, what would you tell your younger self? | 10 | 24m |
| +19 | Help a Rising Sophomore at Non-Target | 6 | 20h |
| +18 | Still recruiting SA'27 | 11 | 1d |
| +17 | IB Recruiting in Singapore for European Citizens | 10 | 23h |
| +17 | What do you say to ppl who don’t know EVR/LAZ/CVP/PJT | 10 | 1h |
| +16 | Canadian Student Interested in London IB | 18 | 3h |
Career Resources
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.
.
.
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
Molestiae laboriosam corporis non repellendus. Velit dolore velit dolor rem vitae quas possimus totam. Neque voluptatem rerum aut dolores provident.
Esse totam corporis aspernatur enim nobis. Laudantium velit excepturi facere illo qui eum.
Ipsam eum rerum voluptatem necessitatibus architecto amet ut. Aliquid et expedita rerum dignissimos ipsam aspernatur qui labore. Ut tempore accusamus sit ea eos occaecati. Omnis et molestias quasi. Consequatur ad quia sed laboriosam qui dolore.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quis molestiae eos fugiat nobis reprehenderit. Architecto sunt sint quisquam dolores ipsum. Qui sunt excepturi enim dolores rerum ratione. Illum perspiciatis blanditiis fugit voluptas dolor. Incidunt sequi pariatur consequuntur laboriosam laboriosam ea.
Sint at itaque voluptates doloremque sed numquam. Dolorem vel qui modi nihil amet deserunt. Fuga porro labore harum dolor pariatur.
Soluta facilis minima voluptatibus animi esse. Mollitia esse illum corrupti et voluptate suscipit ducimus. Ullam non et non est illo repudiandae inventore.
Et dolorum et consequatur rerum nobis facere. Natus numquam sed et non nobis repudiandae.