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/biz/ - Business & Finance

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16347333 No.16347333 [Reply] [Original]

>50k in the bank
>will have 90 in a year
>only have $700 in 401k because I just started contributing to it
>making 85k a year
>debt at $12k for car but will be paid next year
>30 years old

How fucked am I? I only started getting serious about this when I finished grad school in 2018.

>> No.16347338

>>16347333
You're fine if your only debt is the car.

>> No.16347345

>>16347338
I should note I’ll have a house late next year so that debt will severely increase.

>> No.16347347

>>16347333
>100K IN THE BANK
>WILL HAVE 200 IN A YEAR
>ONLY HAVE 2K IN 401K BECAUSE I JUST STARTED CONTRIBUTING TO IT
>I MAKE 100K A YEAR
>DEBT AT 20K, PSSH
>17 YEARS OLD

I got you beat like a dick.

>> No.16347348
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16347348

>>16347333
Could be worse OP
>negative $465 in the bank, nothing to pay it back
>made less than $2,000 this year from several gigs
>don't have a 401K
>made $1,875 this year so far
>debt at $3K for several things including the bank shit I have to pay back
>30 years old

>> No.16347356
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16347356

>>16347333
ur making us feel better about ourselves, dont do that

>> No.16348051

100k saved by 30 (presumably not from inheritance)? you are doing better than most millenials.

>> No.16348143

>>16347333
Top 10% of earners. If you are muscular you are a chad and will win, f not the you are. Beta providee

>> No.16348594

>>16347333
>grad school
>making $85k a year
What did you study?

>> No.16348609

>>16347333
Why are you so cash heavy? Are your living expenses high? Otherwise you should probably take 50% of that cash and put it towards whatever investment you think is best

>> No.16348764

>>16348594
Got an mba with concentration in project management

>>16348609
My parents ran out of cash when i was younger so I wanted house down payment but a hefty rain day fund.

>> No.16348772

>>16348764
Basically I was terrified of ever running out of cash like them.

>> No.16348812

>>16347333
Use your 50k to bump up your 401k and kill your taxes

>> No.16348832

>>16348772
>>16348764
Its a legit fear but at some point you are missing out on huge gains