“Max out your 401k… 80% SPY, 20% some five-year IT fund. Turn it on to auto-reinvest and call me in 30 years.”
HB
Harley Bassman
Alpha Exchange ·
Robert Brokamp · Rule Breaker Investing · Financial Horror Stories, Vol. 5: The All-Monster Edition
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max out IRA and 401k contributions each year, especially after raises
“Max out your 401k… 80% SPY, 20% some five-year IT fund. Turn it on to auto-reinvest and call me in 30 years.”
“Move the same holdings into a traditional IRA or 401k… that income compounds tax-deferred”
“We're contributing, you know, 600 bucks a month automatically to our Roth IRAs”
“If you're looking to make sure that you get all your money in, don't get confused with the IRA deadlines... employee contributions must be by year-end.”
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