How much do you save for retirement? I graduated late (24) and didn't start maxing out my 401K and Roth IRA each year until I was 26, because I was a dumb ass. I just turned 27 last week and I currently have $47K in mutual funds. I'm trying to avoid being screwed like most millennials my generation.
>>984086
>I just turned 27 last week and I currently have $47K in mutual funds. I'm trying to avoid being screwed like most millennials my generation.
You are way above the curve though. Almost $50k in meme funds after only graduating 3 years ago? That's great.
>>984086
how are you able to max out your 401k each year?
>17.5k for 401k
>5.5k Roth IRA
what do you do to earn so much money?
>>984091
I am currently an accountant at a large corporation with a $70K salary. My parents own a rental property close to my office and I help them manage and rent it out. In return I don't have to pay rent. I currently save about 25% of my pretax income to max out my 401K ($18,000) and make a one time contribution each year for my Roth IRA ($5,500) after receiving my annual bonus.
>>984086
who are you competing with?
Saudi princes?
You sound like you have more money than most people already.
>>984105
I'm competing with some of my financially savvy friends I went with college with. One of my friends opened a Roth IRA when he was 18 and had been maxing it out every year with the help of his parents. He is 24 and is about to exceed $100K this year and hopes to retire in his 40s. It might seem excessive now, but a few million dollars 35 years from now will be nowhere close to what it's worth today. A lot of experts say that the average retirement age for millennials will be 75. That's just so depressing.
>>984111
this is my fucking goal right now. getting a degree is totally worth it. I'm taking 5 years to get mine, rather than 4 In the end, it doesn't matter. We're going to be set for life because we will be making dosh. I for one will be investing my hard earned cash unlike my parents
>>984111
The average millennial is expected to work near minimum wage or be unemployed with $40k+ in student loans. It's hard to tell if you're just dumb or trying to brag about having rich parents.
>>985006
You got the right idea my friend! Many people your age don't understand that time is your biggest asset and put off investing. Trust me, you'll be laughing your ass off years from now.
>>984111
>>college with.
Up with which I will not put.
>>984086
$0.
I don't plan on living that long.
If you can't afford to save at least $500 a month, you have a shit job or shit spending habits.
