I work at Spotify in NY and make 250k per year. $225k cash and $25k in options. Here’s my financial situation each month: - post-tax in cash: $11.5k - 401k: $1500 ($500 from employer) - major expense: $4k in rent (including what I contribute to my parents mortgage) am I saving enough (excluding 401k)? yoe: 3
Yes that is very good savings
Just wondering, what are your other expenses like because it looks like you are living off $1000 after all savings, rent, and 401k
After rent and 401k, I have around 7.5k left. I get $300 each month for food stipend + I prefer to cook myself so I save a lot on groceries. Occasional going out and uber rides and stuff all adds up to less than 1000.
Good shit bro. Glad to hear you are going out and still hopefully having fun. Just as important as saving 😃
You’re doing great. Don’t forget though that saving money is not the end all, be all of life. Sometimes spending money on experiences or quality of life goes a long way. You’re on a great track! Keep it up.
thank you so much! you’re absolutely right. I started traveling more this year and it’s 100% worth it :)
Max out IRA as well!
"saving" is a thing they tell poor people to do. I take it all your debts are paid down and you're investing this money?
yes, 0 debt thankfully. I invest mostly in index funds. currently my savings:investments ratio is 70:30. I want it more like 60:40 at least eventually.
You're young, invest it all.
That base is really good. Is this senior at Spotify?
🚶♂️
it is, yes.
Are you going for your late afternoon gratitude walk?
ha it’s wellness week here so the entire company is offline
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You should max out the 401k. Also get HSA plan and do max contribution there
yes, maxing 401k and applied for HSA last month. thanks!
What is the benefit of hsa?