401k Suggesstion
I am new to the US and not sure of 401k options as my current employer doesn't provide one. I will be starting a new position with Intercontinental Exchange next month. So, looking for some suggestion on average expected return on 401k and any good options to maximize the return. Current TC : 110k New TC : 160k + 32k ( 20% Bonus ) 401k: 100% match for the first 6%
Guidewire c000lguy Aug 17, 2023
congrats on the new job. try to save at least 15% for retirement or more if you can. do 6% in regular 401k (because you will get match from employer) and anything more in roth 401k if your employer offers it(because it grows tax free) and have a diverse portfolio. invest in different areas with mutual funds
Congrats on the new gig and access to 401k. Given the increase in TC, you should consider maxing out your 401k. If you have an HSA, max that as well. Many plans can have a limited selection of funds. Look for a set of diversified funds with Low costs. And if you simply want it to invest and get on with your life, maybe select an Age-defined fund. Search for boglehead 3-fund portfolio to keep it simple.
Thank you very much for the suggestion.