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Hello! I read thru personal finance often and this is my first time posting.

I'm at a new job and will now start saving for retirement at age 30.

The main choice I need to make is between 'Plan 2' or 'Plan 3' The differences are here: https://www.drs.wa.gov/choice/compare/

Unless I'm reading things incorrectly - Plan 3 has fixed rates and employer contribution, but takes longer for things to get vested. Plan 2 shorter time for vesting, variable rate that may not be bad either? and employee and employer both contribute.

What should my main factor be in making a decision here? Once I choose, it's set for limetime.

With this new job, Ill all be starting a HSA and looking into max that out if I can. Once I get settled here, I'd be open to consider other maneuvers too (IRAs, etc.).

Overall, Id like to begin my retirement savings journey properly here. I know personal finance is big on doing retirement planning well at any age. I'm curious what the pros and cons are though between this choice I have. I will likely stay in my new role for several years (maybe a long time like 10 years, or at least remain as a public employee to continue with the program if I change my job).

Any thoughts welcome!



Submitted January 04, 2021 at 11:21PM by OMega1D https://ift.tt/35dAQGK

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