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 ******** 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.