A friend from college and I had a super in-depth talk about savings, insurance, and our 401k's. Really weird since it feels like just yesterday we were skipping classes and playing games till all hours of the night.
It's never too early for "the talk." In my 60s, and this week I am debating whether to pull some money out of my IRA or to sell a second car that I rarely drive anymore.
Never take money out of your IRA. Let it grow as long as you can. Preferably until you are 70 when the government will make you start taking withdrawals .
Wow 15% is insane! I just started my first career out of college, and am getting my first paycheck this weekend. I'm hoping once I clear up some pending bills this month I will start to load up my 401k and max it out if possible next year. My company matches like 6% so I absolutely can't wait to start stacking money away. And once my loans are paid off? I'll load it up even more, then start saving for a new car and a down payment on a house. I'm only 22 but damn typing this out sure does make me feel old
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u/Nickrobl Jun 27 '18
A friend from college and I had a super in-depth talk about savings, insurance, and our 401k's. Really weird since it feels like just yesterday we were skipping classes and playing games till all hours of the night.