21M About to start work full time.
Looking for any advice that you would have given yourself when you first started working, in terms of long term retirement planning. I just graduated and will be starting my full time job in 2 weeks. I’ve only ever worked a 10 week internship, so all new stuff for me. In addition to my jobs 401k, would opening a traditional Ira or a Roth 401k be helpful? Or both?
According to the community rules I need to share my salary: 110k base, 10k sign on, performance bonus- no idea, from what I read online anywhere from 0-80k. Also in hcol.
0 debt.
So far I hold roughly 30% qqq, 30% voo, 10% spmo, 20% vxus, and 10% ais.
Apparently for my 401k I can invest up to 50% of my eligible paycheck toward the annual $24,500 IRS limit, and my company will provide a dollar-for-dollar match on the first 6% I contribute.
Is this a good plan? I don’t know what would qualify a 401k plan as good or bad, I do know some employers have better plans than others. Just curious where this plan stands.