401 K with 3.5 employer match
My daughter just graduated as a Speech language pathologist. She already has a job offer 72 thousand with a 401 K with 3.5 employer match. I myself am in the carpenters union and don’t understand the economics of this enough to fully advise her on what it is exactly and how much she should put in. She’ll be living with us for the foreseeable future and remaining on my health insurance for 2 more years. I told her to put in the maximum so she could one day retire. I love my daughter and want to give her the best information possible, so that is why I’m asking you. Thank you very much,
Terry Says
She should contribute the maximum allowable, and certainly enough to get the full employer matching contribution. And she should just put it in the S&P 500 stock index fund. One day we will have a huge market decline. She should completely ignore that and keep putting the money in that fund from every paycheck. She will be glad she did –in the long run!
