About Me: Male 27, working as an engineer. Dating, but independent finances for the time being. Longtime member but posting under a burner account.
Assets - $320,800
Cash: $9,000
Roth IRA: $64,000
401K Roth: $130,000
401K Traditional: $60,000
Pension Lump Value: $15,800
Brokerage: $42,000
Investments across my Roth, 401k and Brokerage are 50% total US / 40% total international / 10% US small cap or small cap value depending on the funds available
Liabilities - $19,500
Student Loans: $16,500 (could pay off, but low interest rate and still a small chance Biden pulls some funny forgiveness business so I'm paying the min and letting it ride)
Credit Cards: $3,000 (pay in full each month, but roughly what I carry on average)
How I got here!
Income:
Salary: $104,000 / year ($94,000 + yearly bonus of ~ 10-14K)
Per diem: $16,000 / year (not taxed, this is a semi temporary thing due to my work location for the past two years, but this could end in 2024. I shouldn't plan on it continuing)
Expenses: My lodging is covered by my employer these days (similar to the per diem situation) so expenses are artificially low, but I travel a lot and hit up a pretty high-end gym to make up for it
Average: $36,000 / year
Typical Savings Contributions per year:
Roth 401K: $55,000 (I do 50% of my income, some of that gets in through an automatic mega-backdoor roth situation)
Roth IRA: $7,000
Brokerage: ~$6,000 or whatever extra I accumulate
401K Match: $4,680 via 4.5% of salary
Pension: $4,680 via 4.5% of salary (this is "contributed" each year then the total grows by some CPI + X formula)
Have had a lot of lucky hits to help get me here, like some weirdly lucrative internships to help pay my way through college and start roth contributions early. Also currently in an abnormal situation of getting a per diem and not needing to pay for housing. So feeling fortunate that this lined up early in my career to get a solid nest egg, but not banking on having a similar savings rate going forward. Also love my work, so not really desperate to bail but it's important to me to have sufficient assets that if I want to take a break or switch to part time at some point in my career (to raise kids or something) I have that flexibility.
Would love to hear any thoughts or recommendations! Currently planning to treat myself with a motorcycle I've been eyeing for a few years to commemorate the occasion. Good luck out there all! submitted by /u/Nautical69_
[link] [comments]
Assets - $320,800
Cash: $9,000
Roth IRA: $64,000
401K Roth: $130,000
401K Traditional: $60,000
Pension Lump Value: $15,800
Brokerage: $42,000
Investments across my Roth, 401k and Brokerage are 50% total US / 40% total international / 10% US small cap or small cap value depending on the funds available
Liabilities - $19,500
Student Loans: $16,500 (could pay off, but low interest rate and still a small chance Biden pulls some funny forgiveness business so I'm paying the min and letting it ride)
Credit Cards: $3,000 (pay in full each month, but roughly what I carry on average)
How I got here!
Income:
Salary: $104,000 / year ($94,000 + yearly bonus of ~ 10-14K)
Per diem: $16,000 / year (not taxed, this is a semi temporary thing due to my work location for the past two years, but this could end in 2024. I shouldn't plan on it continuing)
Expenses: My lodging is covered by my employer these days (similar to the per diem situation) so expenses are artificially low, but I travel a lot and hit up a pretty high-end gym to make up for it
Average: $36,000 / year
Typical Savings Contributions per year:
Roth 401K: $55,000 (I do 50% of my income, some of that gets in through an automatic mega-backdoor roth situation)
Roth IRA: $7,000
Brokerage: ~$6,000 or whatever extra I accumulate
401K Match: $4,680 via 4.5% of salary
Pension: $4,680 via 4.5% of salary (this is "contributed" each year then the total grows by some CPI + X formula)
Have had a lot of lucky hits to help get me here, like some weirdly lucrative internships to help pay my way through college and start roth contributions early. Also currently in an abnormal situation of getting a per diem and not needing to pay for housing. So feeling fortunate that this lined up early in my career to get a solid nest egg, but not banking on having a similar savings rate going forward. Also love my work, so not really desperate to bail but it's important to me to have sufficient assets that if I want to take a break or switch to part time at some point in my career (to raise kids or something) I have that flexibility.
Would love to hear any thoughts or recommendations! Currently planning to treat myself with a motorcycle I've been eyeing for a few years to commemorate the occasion. Good luck out there all! submitted by /u/Nautical69_
[link] [comments]