October 2019 15k SPAM Thread

[ChebyshevII PE PMP]

All this discussion of financials has gotten me seriously thinking about contributing max allowable to my IRA.

 

[RBHeadge PE]

They matched x% up to 7%. I forget what the exact number was, but let's say 3%. So if I put 7%, they put 3%. If I put 3.5%, they put 1.5%.

ohh that's even worse than my first read.

 

[Orchid PE]

All this discussion of financials has gotten me seriously thinking about contributing max allowable to my IRA.

Why not. The max is $6k, right?

 

[Will.I.Am PE]

I married another low-maitenence STEM type. She's a chemist. I'm not worried about either of us screwing up the financials.

Honestly, good for you, bro.  :thumbs:

 

[RBHeadge PE]

All this discussion of financials has gotten me seriously thinking about contributing max allowable to my IRA.

IRA or Roth IRA? Big difference between the two.

 

[ChebyshevII PE PMP]

Why not. The max is $6k, right?

For standard, yes, but I have a simple, which puts me at 13k. (Simple acts like standard)

 

[Booo]

All this discussion of financials has gotten me seriously thinking about contributing max allowable to my IRA.

If you are not investing your earnings/savings, then you should max out whatever pretax allowances you can. 

 

[Orchid PE]

For standard, yes, but I have a simple, which puts me at 13k.

Sweet.

 

[LyceeFruit PE]

I have two older siblings, so I think I end up there as well. I just turned 34, so I'm on the upper end. 

approximately: https://genhq.com/faq-info-about-generations/

I'm solidly in the millenial category at 30 but there's also two sub-categories within millenial I've read about due to technology

 

[Orchid PE]

I married another low-maitenence STEM type. She's a chemist. I'm not worried about either of us screwing up the financials.

Same. Me wife is an EE like me.

 

[ChebyshevII PE PMP]

IRA or Roth IRA? Big difference between the two.

Why not. The max is $6k, right?

For standard, yes, but I have a simple, which puts me at 13k. (Simple acts like standard)

 

[LyceeFruit PE]

I married another low-maitenence STEM type. She's a chemist. I'm not worried about either of us screwing up the financials.

I'm not married but Boyfriend is STEM too. We both tend to go through phases were we spend like assholes and we're both working on that. Neither of us have gotten into trouble with it yet but the potential is there 

 

[RBHeadge PE]

I have two older siblings, so I think I end up there as well. I just turned 34, so I'm on the upper end. 

37 here. I'm on the early edge of Gen Y. My wife is a Gen X, but like me is of a Xennial midset. She has an older brother which pulls her closer to X, whereas I have a younger brother who pulled me closer to millennial.

 

[Orchid PE]

approximately: https://genhq.com/faq-info-about-generations/

I'm solidly in the millenial category at 30 but there's also two sub-categories within millenial I've read about due to technology

Only millennials would come up with sub-categories so don't don't actually have to call themselves millennials lol! I'm kidding. 

 

[LyceeFruit PE]

If you are not investing your earnings/savings, then you should max out whatever pretax allowances you can. 

I upped my 401k contribution after the discussions last week. And I plan to look into it more come January to see what I can do going forward. But I also just moved (again) so I'm letting that settle before I do much more 

 

[Orchid PE]

I don't like how to old generations confuse millennial with Gen Z. I worked with some older people and whenever they see in the news or wherever some kid doing something stupid, they talk about those "darn millennials."

 

[RBHeadge PE]

Is your income such that the standard IRA tax deduction actually benefits you? Even if it is, I'm not sure that it wouldn't be better to invest in the 401k instead?

 

[LyceeFruit PE]

Only millennials would come up with sub-categories so don't don't actually have to call themselves millennials lol! I'm kidding. 

I have zero issue calling myself a millenial. But as a 30yo my experience growing up is different than the kid born in 1995 (or in 1980) and that's due to the rate of change with technology. I think it's a fascinating read

 

[Booo]

I upped my 401k contribution after the discussions last week. And I plan to look into it more come January to see what I can do going forward. But I also just moved (again) so I'm letting that settle before I do much more 

Thats a great start

 

[Orchid PE]

I upped my 401k contribution after the discussions last week. And I plan to look into it more come January to see what I can do going forward. But I also just moved (again) so I'm letting that settle before I do much more 

If you can, automatic contribution increases are useful. Also, I've heard it's good practice that anytime you get a raise to put part of it towards your contribution. They say it makes it a lot easier since you don't get used to the increase in pay. Idk haven't tried it yet.