berryjam@lemmy.world to Ask Lemmy@lemmy.world · 9 days ago[Serious] What should every young person do?message-squaremessage-square110fedilinkarrow-up198arrow-down13file-text
arrow-up195arrow-down1message-square[Serious] What should every young person do?berryjam@lemmy.world to Ask Lemmy@lemmy.world · 9 days agomessage-square110fedilinkfile-text
For the purpose of this question, the target age range is 20-30. Asking because I feel like I’m wasting my youth.
minus-squareFlashMobOfOne@lemmy.worldlinkfedilinkarrow-up11·edit-29 days agoSave at least $30,000 for retirement within ten years of your first adult job. If you can, put 15% of your check into your retirement every single check, at minimum. That will set you up for retirement, especially if you’re entering the work force in your late teens or early twenties.
minus-squareKaiyoto@lemmy.worldlinkfedilinkarrow-up6·9 days agoThis for sure! I never understood the power of a 401k being a tax shelter and the power of employer matching. Do as much as you can, even if it’s 50$ a paycheck. It’s best of you can put in as much as the employer will match.
Save at least $30,000 for retirement within ten years of your first adult job.
If you can, put 15% of your check into your retirement every single check, at minimum.
That will set you up for retirement, especially if you’re entering the work force in your late teens or early twenties.
This for sure! I never understood the power of a 401k being a tax shelter and the power of employer matching. Do as much as you can, even if it’s 50$ a paycheck. It’s best of you can put in as much as the employer will match.