12% 401(k) Contribution - What to do?
Hi everyone, I recently landed a new job where the base 401(k) contribution for all FTEs is 12% of your salary. This is regardless of your contribution, with no additional match. I realize that this is unusual for most people and it is for me as well. In my last job, I got up to a 6% match so I maxed that out and didn't think on it any further.
I currently contribute an additional 5% on top of the 12% that my employer provides, but got chatting with a coworker who mentioned that they were advised to take that money and, since it was not being matched, put it into the stock market instead. I'm open to learning, but have very little knowledge of stocks, cryptocurrency, or likely any other potential option you may suggest.
For a little extra information, I am in my mid-twenties, earn mid-five-figures/year, have little saved for retirement right now, and am open to any suggestions you may have.
So, what would you do in my situation? Thanks for any replies!
The moment that the mom yeets her baby into the portal, and then they both start crying laughing was just perfect.
I just got in and I’m commenting from the TestFlight app. Can’t wait to see where you’ll take us!
I still think it’s a good idea. You can create alts to get around bans for instance, but it’s a powerful mod tool nonetheless. Most people will see the rule and stop there, and if they don’t then it’s a good way to justify an IP ban for repeat offenders.
As an aside, the thought of the kind of person that would break rules so that they can provide extra unpaid labor makes me queasy.