Investing 401k basics

Cisco
ripfml

Go to company page Cisco

ripfml
Apr 20 13 Comments

I'm a junior SDE who's accumulated around 8K in my 401k after working for a few months. Wanted to start investing. It's all pretax. Any advice on how I can get started? Should I change it to Roth?

I'm an F1 who got picked in the H1b this year if that helps.

TC: 160k
YOE: 10 months

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 TOP 13 Comments
  • Amazon
    yavol

    Go to company page Amazon

    yavol
    Max it out every year, set it for a retirement date fund and then be a millionaire in retirement
    Apr 20 1
  • Amazon
    powm64

    Go to company page Amazon

    powm64
    The formula is simple max out your 401k, early on. Right now it’s a good time for you, market isn’t doing well so even if it crashes you’ll be buying in for cheap. Next learn about investing, and ETFs, and shoot to invest half of your income, or as much as you can afford.

    Don’t invest in crypto more than you can afford to loose, it’s a risky investment no matter how you paint it.
    Apr 20 0
  • Charles River Laboratories
    exfS67

    Charles River Laboratories

    exfS67
    Index funds index funds index funds
    Apr 20 0
  • Invest in sp500 or total stock market + international's
    Apr 20 0
  • New
    tc_🥜🥜🥜

    New

    tc_🥜🥜🥜
    Traditional 401k helps you reduce your current taxable income, Roth helps reduce taxable income in retirement. If you have access to after tax 401k contributions, do those and roll those over into Roth (see also mega backdoor Roth)
    Apr 20 0