Hello. I'm 28 and am a little behind on my 401k due to graduate school. I was planning on maxing it out this year, but I live in SoCal. I got a 100k job offer and the company has a 5% match. I started with a 10% contribution because I had a bit of debt from school but was planning on increasing that to 20% later this year.
I haven't yet because I am not really able to build up a savings account. My rent is 2750 and all my other fixed bills (insurance, utils, phone, debts) are about 700.
In grad school I was living for ~1500 a month total, and now it's 4000 if I live like a monk!
Is it unrealistic to think I could max my 401k with my salary in such a high cost of living location?
If people would be willing to share what age, salary, and location they were when they started to max their 401k I would appreciate it.
Submitted July 23, 2024 at 11:50PM by Ovaltine_Tits https://ift.tt/JT2eSr7
