Moved to the US, have Vanguard set up. Am contributing enough % into the pre-tax 401k so Google matches and it maxes out. This comes to $30k ish a year. I can save $1k easily per month extra. Is it worth investing this directly into a Vanguard index fund? That is $12k a year. Including bonus I can probably save $50k / year. Curious how I grow my net worth given people on Blind seem to be millionaires within 5 years and I will only have $250k at this rate (ignoring inflation / comp increases).
They don't mention that they are on a single kidney so go ahead if you wants to be a millionaire
It depends on your current TC. If your current TC is 200k and base is 140k, then you can definitely save more than 1k a month. Also you haven’t counted any RSUs towards your savings. Are you not getting any RSUs? RSUs and company stock growth are what have propelled people to 1M within 5 years.
Consider doing mega backdoor roth too. Google's plan supports it. After tax contributions followed by in-plan conversion to Roth IRA.
Join g/financial-planning group
Yes absolutely. Live frugal and dump all you can into VTSAX and a little VXUS and you can be financially independent very early.
^this is the correct answer. Maybe VOO if you want to target just the S&P500 Index, but all of these will work. Contribute monthly and just ride the Index fund express to retirement Also, select the S&P500 Index fund in your 401k account. Don't bother with garbage Target Date funds
^this is the way. Although I personally have 70% S&P500 and 30% target date fund, I'm thinking of changing that 30% to something other than that. Suggestions welcome.