Off Topic 2013

[rspencer86]

Quote: Originally Posted by SidVish

We just got our end of year 401K statements from our employer today and I was surprised at how many of my co-workers don't even participate in it. I've got about $75K saved up in about 5 years at this job because my employer matches dollar for dollar up to a certain percentage. I'm 34 so I think this is a decent start. I'm not sure what these people plan on doing for their future so if your employer has a matching 401K program take advantage. Even if they don't match put money aside.

Damn, that is a pretty nice chunk of change for 5 years of saving. Mine has been up and running for two years and I do 6% and only have $6,000.

That's enough to retire now, right?

[cjonesfan921]

Quote: Originally Posted by SidVish

We just got our end of year 401K statements from our employer today and I was surprised at how many of my co-workers don't even participate in it. I've got about $75K saved up in about 5 years at this job because my employer matches dollar for dollar up to a certain percentage. I'm 34 so I think this is a decent start. I'm not sure what these people plan on doing for their future so if your employer has a matching 401K program take advantage. Even if they don't match put money aside.

I'm about 8 months into mine with $3850 in there. Employer matches up to 4%, so that's what I've been doing. I plan on maxing that out once I have my emergency stash filled to a solid number. I'm looking to have at least 20K in 'emergency' funds, and then I'm loading up on 401K and other means.

My coworker is right around you, she's 2.5 years in and has close to 50 in there, but she's also single.

[SidVish]

Quote: Originally Posted by rspencer86

Damn, that is a pretty nice chunk of change for 5 years of saving. Mine has been up and running for two years and I do 6% and only have $6,000. That's enough to retire now, right?

Haha not quite yet. I just try to save wherever I can. I don't buy every video game when it comes out so I'll just pick and choose the ones I really want and pick up other at a later date when they're much cheaper by then. But yeah keep up with your savings and you'll see it increase over time.

Quote: Originally Posted by cjonesfan921

I'm about 8 months into mine with $3850 in there. Employer matches up to 4%, so that's what I've been doing. I plan on maxing that out once I have my emergency stash filled to a solid number. I'm looking to have at least 20K in 'emergency' funds, and then I'm loading up on 401K and other means. My coworker is right around you, she's 2.5 years in and has close to 50 in there, but she's also single.

Good idea. If your employer matches up to a certain percentage max that out. In this day and age you need to have money saved up in case of emergency. You never know what can happen. I've seen a lot of good people lose their homes because they don't save. Just think what would you do if you lost your job today.

[slickdtc]

Quote: Originally Posted by SidVish

We just got our end of year 401K statements from our employer today and I was surprised at how many of my co-workers don't even participate in it. I've got about $75K saved up in about 5 years at this job because my employer matches dollar for dollar up to a certain percentage. I'm 34 so I think this is a decent start. I'm not sure what these people plan on doing for their future so if your employer has a matching 401K program take advantage. Even if they don't match put money aside.

My dad took advantage of his company matching his savings, and he was rewarded by retiring at 55 with a comfortable chunk of money to last the rest of his life. Basically, he can live off the interest. 30 years at one place was lucky and fortunate, he admits, and he actually liked what he did too.

I can only hope to be so wise and fortunate.

[SidVish]

Quote: Originally Posted by slickdtc

My dad took advantage of his company matching his savings, and he was rewarded by retiring at 55 with a comfortable chunk of money to last the rest of his life. Basically, he can live off the interest. 30 years at one place was lucky and fortunate, he admits, and he actually liked what he did too. I can only hope to be so wise and fortunate.

Yeah sounds like your dad did good. I'll just tell you that everyone has to start somewhere. If it's putting aside $20 a week then so be it. Then just add on whenever you can. Heck even your tax refund could be a good start.

[cjonesfan921]

Quote: Originally Posted by SidVish

Good idea. If your employer matches up to a certain percentage max that out. In this day and age you need to have money saved up in case of emergency. You never know what can happen. I've seen a lot of good people lose their homes because they don't save. Just think what would you do if you lost your job today.

That's been my philosophy. Until I get my liquid savings to an amount I am comfortable with, I max out their matching contribution...because can't give that away!

I'm half way to 20K now, but may push that number higher, trying to eventually save for a house. It's difficult to balance your life financially at a young age...you want to save for the future, but you are also tempted to spend now. I learned a valuable lesson, and really pursuing a goal of saving 10-15K this year.

[Candyman5]

One thing that was great about my old job, they matched you 401k 100% up to a certain percentage. Really nice.

Also my New Years Resolutions:

1. Get a Girl
2. Get a better Car
3: Get a better Job (4 years at current job and making $8.50, -_-)
4: Get my own place
5: Start Insanity to lose weight (Ties into getting my own place)

[slickdtc]

Quote: Originally Posted by Candyman5

One thing that was great about my old job, they matched you 401k 100% up to a certain percentage. Really nice. Also my New Years Resolutions: 1. Get a Girl 2. Get a better Car 3: Get a better Job (4 years at current job and making $8.50, -_-) 4: Get my own place 5: Start Insanity to lose weight (Ties into getting my own place)

Yo man, no excuse to not go out and find a better job then that $8.50 you're getting currently.

I get $8 ($9-9.25 to manage, I was at $8.50 after I asked for a demotion from manager and then took a 6 month hiatus) at a pizza place, and $9 as a stockroom guy. The stockroom is EASIER. I "love" making pies, though.

I'm thinking about going elsewhere for more money and dropping the pizza thing. Retail, at least in the back room, is definitely better than the food industry. And those bastards will milk you for all your worth. Seems retail starts you at a higher rate (hey, ya can't go lower then minimum wage!) and you actually get raises, which at least at the pizza place I work at, don't exist.

The redeeming qualities are that I'm super familiar and comfortable (and its actually fun/funny with co-workers) with the job, and it's extremely flexible with my other job schedule because I get a 2-week schedule at the stock job and they wait until the last minute to get new schedule up at the pizza place. Still, I feel as if I'm wasting some time/money making $8 when I could get .50-$1 more elsewhere... For what? Comfort? I could be comfortable elsewhere too, and more well paid.

So I get your dilemma. If you go out on good terms, chances are you'll be welcomed back to your old job if things at a new place don't work out. I know the pizza place is a mess when I'm not there because only two other people (the managers) are as good at making the pies as me. They'd rather the quality of their business suffer then give me .50 cents more an hour...

Gonna cut this now, holy rambles Batman!