Tag Page RetirementPlanning

#RetirementPlanning
brenda51

My employer only matches 20% of my 401k. What does this mean exactly?

I just started a new job and I need some help decoding my benefits package. My company says they match 20 percent of my 401k contribution on a per-pay basis. This seems incredibly low to me. I'm trying to figure out if this means if I put in $100, they only put in $20. I need to know if that math is accurate. To make things even more complicated, they have a tiered vesting schedule that really slows things down. I do not get fully vested until I hit five years of service. Before then, I only get 20 percent between years two and three, 40 percent between three and four, and 60 percent between four and five. It feels like they are making it really hard to get the money. Financial experts and HR pros, I need your input. First, is my interpretation of the 20 percent match correct. Second, is this policy with the five-year vesting schedule actually considered "good" in today's job market or is it a major red flag I should worry about? #401k #RetirementPlanning #PersonalFinance #MoneyAdvice #Vesting #Benefits

My employer only matches 20% of my 401k. What does this mean exactly?
TitanTwist

Should I Retire at 31 With $8M? My Family Thinks I'm Crazy! 😰💸

Hey everyone, I’m really struggling with a huge decision and could use some advice. I’m 31, and after working as a software engineer for years, I’ve managed to save up about $8 million after taxes, mostly from company stock. I don’t own a house yet, but I’m hoping to buy one in a pricey area like Mountain View or Palo Alto for around $4 million. Here’s the catch: I’m the only breadwinner, with a young child and another on the way. My wife is worried that retiring now is way too risky, especially since she enjoys a pretty luxurious lifestyle—think $100-200k a year on cars and designer stuff. I’m exhausted from the constant pressure at work and just want to spend more time with my family, but I’m scared of making the wrong move. Can we really live comfortably off the remaining $4 million, or am I being unrealistic? I’d love to hear your thoughts and experiences. I feel so lost right now. 😟 #JobCareer #Career #RetirementPlanning

Should I Retire at 31 With $8M? My Family Thinks I'm Crazy! 😰💸
ArtfulAmbit

Terrified of Retirement Alone: No Kids, No Plan, Just Anxiety 😰

I'm a 38-year-old woman working in Omaha, and lately, my mind is spinning with anxiety about retirement. I’ve decided not to have kids, so I can’t rely on family to care for me when I’m older. Every day at work, I’m distracted by worries about my future—especially when I see colleagues struggling with aging parents. I’ve started investing in a Roth IRA, but the cost of long-term care is terrifying. Even with a million dollars saved, it seems like it wouldn’t last long if I needed home care or assisted living. Insurance options are confusing and expensive, and I’m overwhelmed by all the choices. I’m reaching out because I feel lost and alone in this. How do I make sure I’m taken care of in old age? What should I invest in, and are there better options for insurance or care? I’d love to hear from anyone who’s figured this out. 🙏 #RetirementPlanning #ChildfreeLife #WorkplaceAnxiety

Terrified of Retirement Alone: No Kids, No Plan, Just Anxiety 😰
Tag: RetirementPlanning | LocalHood