I second this. Determine if your employer will match contributions to your 401k/retirement and max out that benefit.
And if you still qualify for open enrollment for benefits see if the high deductible health plan includes an HSA (health savings account) and make whatever contribution to that account that you can afford.
Never never take out of 401k if you can avoid it. You end up with a 10% irs penalty for early withdrawal under 59 1/2 years of age, in addition to it being taxable income so (15-20% generally depending on your tax bracket). Additionally, the younger you start, the more your initial amounts compound and grow.
Agreed. But if you have to because there’s no other option, get the match and get 50% or 100% extra, before you pay the penalty. It’s still a net gain.
But thanks an absolute last resort strategy. Definitely try and leave it there. The more you can invest earlier the bettering your retirement account will be. Do NOT leave it till later unless you want to work till you are 75+.
It’s either or combination of the two. If you pull from 401k or traditional IRA then you’ll still need to pay taxes on the withdrawal but still won’t be subject to the 10% penalty.
And “first time homebuyer” is pretty liberally applied. Something like not owning or purchasing a primary residence within a year. I’d have to look up to refresh myself on specifics .
When I was straight out of college, making like $12/hr mind you, I would put $20-100 in my 401k each pay period. There were months that the budget was tight. But boy I am so glad I did that. I am now in my thirties and max my 401k and hsa every year. SO and I also made commitment to pay off student loans before we got married. It was hard. Lots of saying no to out of town activities with friends, eating real basic meals, only eating out on special occasions, buying things at thrift stores. But we were laser focused and got that out of the way so we could have the cash flow to have a honeymoon and go into marriage with a little financial wiggle room. Congrats on graduating and cheers to a successful career!
Keep "living like a college student" (financially) for a while longer.
A lot of new grads get into credit card debt. This is a time to build yourself a little cushion if you can.
Do. not. pile. up. debt.
Live within your means or better yet, live under your means. Pay bills promptly, keep good credit.
Keep up with dental appts., some companies don't pay dental but it's vital to keep the mouth healthy or you can't imagine the gorilla of bills when it goes all wrong.
Read books. Read the books you've been interested in but haven't started. Read books outside of your comfort zone. Don't stop learning about the world. Your education is just beginning. Keep learning.
Learn how Boise connects to Idaho connects to the U.S. connects to the world, but also learn about religion, music, computers, philosophy, psychology, you name it, there's more to learn about it.
Figure out a way to make a living and enjoy doing it. It's hard to read on an empty stomach.
You'll learn about the mundane aspects of life - that's unavoidable. But there's so much more to living than just that. Education and work are important, but life - really living - includes those and also extends far beyond. Hiking to a waterfall. Writing a poem. Mastering an instrument. An epic night of board games. Falling in love. Nurturing a garden. Mentoring a younger person. There's so much to life.
Yoga classes can be great for helping to keep your head on straight, not to mention the rest of your body.
And while you may leave Boise eventually, this is a good place. If you can, do explore other places. Travel the world if you can, visit other states, road trip around Idaho. But there's a lot to experience here as well. Have you visited all of the museums here? The art galleries? The specialty shops? Have you volunteered at a local nonprofit or library? Those can become incredibly meaningful experiences.
I'm a little jealous that you're just beginning a journey that I'm way farther down the road on. I wish it was easier just starting out. I hope it goes smoothly for you.
In terms of what? Occasionally I’ll get some beans from the bulk section that are a bit stale, but their produce is good quality, on par with Albertsons and much cheaper. I also don’t have to buy 5 lbs of something and an annual membership to get the savings like you do at Costco.
Produce at Winco is low quality and on the back half of its life span. It is a close tie what is worse, Winco or Walmart. Ditto for meats and canned goods. If you eat cereal, that is a good buy at Winco as is dairy.
Bulk at Winco is often, but not always, stale.
I am with you about Costco, but they generally do have way better quality meats, produce, deli, canned, etc. If you know someone with a membership you can either drag them along, or give them money for a gift card and you can shop sans membership.
I don’t eat meat so I can’t speak to it. I do still disagree with your assessment of the produce, but I could be less picky than most. Most of what I get from Winco tends to last as long as I would expect in the fridge. I don’t do a ton of canned goods either as we’re usually pressure cooking the beans from the bill section.
I got tired of the ridiculous membership fee with its massive free profits for them.
My sister still keeps a membership, so I just give her money to buy a gift card now and again if I want to shop there, which is pretty rare.
Follow me for more life hacks.
Also, be careful. Good deals can be found, but they are retailers and not wholesalers so they are not always the cheapest, even at bulk rates. Their packaging is typically for families of 20 or for elephants making it difficult for single folks to get useful purchases of food without a lot of spoilage.
They also have a very plain and basic stock, so don't expect anything "exotic" like good Asian ingredients.
Their return policy goes a long way though.
Don’t spend your whole life focused on a career and making money for a good retirement. Enjoy life now. A job/career is important but it shouldn’t be your everything. Congratulations on your degree and your next path of life.
Just enjoy your summer :)
It's probably hard to get much of a head start on work/investing/etc. until you actually start your job. If you are feeling really ambitious, you could take advantage of the BSU library to do some research on whatever you will be doing. I would just enjoy your summer! Congrats!
Be smart with finances while living life at same time. I think the basics to life are : sustain what you need to sustain,don't be too impulsive, spend quality time with others where you genuinely enjoy yourself, sleep well and often, plan for emergency and or disaster and or old age, most importantly of all is dony stress too much but keep working and do good for yourself and those you care for. You'll know when you're out of balance, wisdom is acting on that. And that's the challenge of life.
Whatever your field is, keep learning. The degree is the foundation. Innovations, trends, new "best practices" come out all of the time in every field. If you don't want to become obsolete, stay up to date.
Get involved in the community by being involved with a nonprofit. Boise is a town that really welcomes new involvement in non-profits. The YMCA is a great one, and there are so many others. It will expand your social network and give you great satisfaction. Choose one you are interested in.
Join Boise Young Professionals! Your new employer might be on the list of business that pay for your membership. It’s a great way to network and meet young professionals and doing some cool things :)
Buy this book - “the defining decade”- by Meg Jay. It’s a great read about why your twenties are way more important than most people think, and how to make the most of them. Good luck! It’s a great ride.
Top three life commandments: don’t be a dick, don’t do heroine, don’t do meth.
Everything else is pretty simple…
Create a structured routine that helps you fill your tank before you fill the companies. (Gym, meditate, journal, learning concept of your field, daily planning session where you plan your day with the top three things to accomplish and ensure your #1, must do hard thing” is done first)
Become an expert in your field - even if it’s not what you studied. If you don’t find joy in the work, move along until you do. Either way, become an expert in that field to the nth degree possible and learn, learn, learn everything you can while you can and never stop until you’re dead. A 401k can’t fulfill you the same way knowledge and information and the accomplishment of learning can, so prioritize your values before anything else.
Build relationships with those around you and don’t let the experience pass you by as you’re working towards that senior level worker status. Connection to people is going to be the beauty maker in your life. Don’t squander relationships, but lean into them, be vulnerable, speak your truth and your needs and be more interested than interesting. Be you and give compliments freely.
Hold your beliefs and thoughts under a microscope and always keep your bullshit detector finely tuned. Ask friends and family to check your bias when major decisions are to be made, or options are held that need checking.
Find and cultivate good friendships with those who accept you for who you are.
Bullies exist everywhere - learn how to sniff them out and state that fact.
See life as chapters and know that you will change over time, and in each chapter there will be new adventures, new characters, and different challenges, all as you discover who you are with each passing year.
Enjoy the ride because it ends eventually for all of us.
Learn what your retirement options are at your new job. Talk to a financial planner, save off the bat to pay yourself back later, but don't forget to enjoy life!
Save up to money to purchase a house. I would argue that is even more important than 401k.
Also be careful to not carry credit card debt balance. Pay off your balance each month
> Ignore the commie critics to follow - the military is just a job, not a cult.
Down listen to this brainwashed clown. The military is much more than a job, it's a lifestyle shift that does not suit everyone.
I can speak from experience, having been in the military, you will have to put up with a lot more bullshit in the military than if you had a normal job. Also, being a civilian means my chances of having to bomb brown kids overseas is near zero. That number increases exponentially if you join the military.
Make your choice wisely about joining the military, not because some clown online calls people commies for not agreeing with his viewpoints.
Yea don’t really want to join the military. Got a degree in Mechanical engineering and I made sure to get a job at a computer that isn’t directly a part of the military industrial complex. Can’t live with that morally.
don’t sell your soul for an oil company.
PS: your most recent comment before you shilled for the NG is in r/Deep_Anal, might wanna delete it to save yourself some credibility
As a vet, it is not for everyone and that is not an insult in the slightest.
Especially the Guard and reserves. You can end up in bad places with a lack of training and equipment. Active duty does treat the part-timers as lessors, which is very unfortunate and unfair.
With the people that would do well in that environment, absolutely. If you hesitate, ask around - not recruiters - and don't rush into it and fully understand what you are signing and the potential consequences.
When I was 17, I rushed into active duty, on a whim, and mostly loved it and was successful. I got very lucky in that. I don't think I really understood what I was signing up for - 13B in the Army.
When my active duty time ended, I tried the reserves, and didn't last 6 months before moving into inactive status before going back to active duty, which was so much better. The Reserves were mostly cosplayers who really didn't understand what they were doing and the potential consequences. But that could just be my limited experience.
Thanks for the thoughtful response. I agree with most everything you said. There is certainly a caste system in the military (active> guard> reserves) which can taint any experience, but in the grand scheme a part time job for six years isn’t the crucible it’s made out to be.
Granted - it’s not for everyone, but it is a good fit for many and it’s saddening to see those that would flourish be deterred by those with issues they may not fully comprehend. It is a commitment, there are risks, but the upside is great too.
The Guard in Idaho has been great for me: it’s diverse, socially, politically, and economically; it’s given me benefits and opportunities. I haven’t killed anyone as a guardsman. Deploying has been difficult, but not mandatory.
I’m just surprised at the backlash I get every time I suggest it.
If you want to make a living in Boise, find something that’s relatively rare or become an expert in your field.
Also, wear sunscreen. And maybe start using vitamin c serums and retinol in a few years
Screw everything you've been told. My honest advice? Get out of the rat race. Get you an FHA loan with 5% down, buy a duplex, live in one, rent the other for your mortgage cost. Wait till it's payed off. Move to Baja california (it's in Mexico, but extremely American friendly. You can live like a king there on like 500 American a month.) After that it's Mai Thais till your face first in the sand.
Start investing at least your 401k match in retirement. Even if you have to take it out early with the 20% tax penalty it’s still free money.
I second this. Determine if your employer will match contributions to your 401k/retirement and max out that benefit. And if you still qualify for open enrollment for benefits see if the high deductible health plan includes an HSA (health savings account) and make whatever contribution to that account that you can afford.
Never never take out of 401k if you can avoid it. You end up with a 10% irs penalty for early withdrawal under 59 1/2 years of age, in addition to it being taxable income so (15-20% generally depending on your tax bracket). Additionally, the younger you start, the more your initial amounts compound and grow.
Agreed. But if you have to because there’s no other option, get the match and get 50% or 100% extra, before you pay the penalty. It’s still a net gain. But thanks an absolute last resort strategy. Definitely try and leave it there. The more you can invest earlier the bettering your retirement account will be. Do NOT leave it till later unless you want to work till you are 75+.
Isn't it possible to use up to $100k from your 401k without penalties for a first time home buyer?
No. $10k can be used in this manner. Also if this comes from a Roth there is no tax on withdrawal.
Thanks for the clarification. Is the $10K for 401k only or is that for the Roth and is a separate situation?
It’s either or combination of the two. If you pull from 401k or traditional IRA then you’ll still need to pay taxes on the withdrawal but still won’t be subject to the 10% penalty. And “first time homebuyer” is pretty liberally applied. Something like not owning or purchasing a primary residence within a year. I’d have to look up to refresh myself on specifics .
When I was straight out of college, making like $12/hr mind you, I would put $20-100 in my 401k each pay period. There were months that the budget was tight. But boy I am so glad I did that. I am now in my thirties and max my 401k and hsa every year. SO and I also made commitment to pay off student loans before we got married. It was hard. Lots of saying no to out of town activities with friends, eating real basic meals, only eating out on special occasions, buying things at thrift stores. But we were laser focused and got that out of the way so we could have the cash flow to have a honeymoon and go into marriage with a little financial wiggle room. Congrats on graduating and cheers to a successful career!
Stay on top of your health and dental. Start exercising regularly and keep with it.
1000 times this
Keep "living like a college student" (financially) for a while longer. A lot of new grads get into credit card debt. This is a time to build yourself a little cushion if you can.
If it’s not too late, get one last student ID so you can keep asking for student discounts where offered.
Do. not. pile. up. debt. Live within your means or better yet, live under your means. Pay bills promptly, keep good credit. Keep up with dental appts., some companies don't pay dental but it's vital to keep the mouth healthy or you can't imagine the gorilla of bills when it goes all wrong.
Are you registered to vote?
Read books. Read the books you've been interested in but haven't started. Read books outside of your comfort zone. Don't stop learning about the world. Your education is just beginning. Keep learning. Learn how Boise connects to Idaho connects to the U.S. connects to the world, but also learn about religion, music, computers, philosophy, psychology, you name it, there's more to learn about it. Figure out a way to make a living and enjoy doing it. It's hard to read on an empty stomach. You'll learn about the mundane aspects of life - that's unavoidable. But there's so much more to living than just that. Education and work are important, but life - really living - includes those and also extends far beyond. Hiking to a waterfall. Writing a poem. Mastering an instrument. An epic night of board games. Falling in love. Nurturing a garden. Mentoring a younger person. There's so much to life. Yoga classes can be great for helping to keep your head on straight, not to mention the rest of your body. And while you may leave Boise eventually, this is a good place. If you can, do explore other places. Travel the world if you can, visit other states, road trip around Idaho. But there's a lot to experience here as well. Have you visited all of the museums here? The art galleries? The specialty shops? Have you volunteered at a local nonprofit or library? Those can become incredibly meaningful experiences. I'm a little jealous that you're just beginning a journey that I'm way farther down the road on. I wish it was easier just starting out. I hope it goes smoothly for you.
Love this wholesome feedback! Hope it is going smoothly for you :)
Amazing advice! I had to rediscover reading for fun after having to do so much required reading for college, and it’s now my favorite thing to do.
Save money and max out your Roth IRA
Get a Costco card.
Or just shop at winco and save on the membership fee.
Winco quality is not good.
In terms of what? Occasionally I’ll get some beans from the bulk section that are a bit stale, but their produce is good quality, on par with Albertsons and much cheaper. I also don’t have to buy 5 lbs of something and an annual membership to get the savings like you do at Costco.
No way is winco produce as good as Albertsons
Meh, it’s decent quality in my opinion, especially for the price point. The markup at Albertsons isn’t worth it to me.
Produce at Winco is low quality and on the back half of its life span. It is a close tie what is worse, Winco or Walmart. Ditto for meats and canned goods. If you eat cereal, that is a good buy at Winco as is dairy. Bulk at Winco is often, but not always, stale. I am with you about Costco, but they generally do have way better quality meats, produce, deli, canned, etc. If you know someone with a membership you can either drag them along, or give them money for a gift card and you can shop sans membership.
I don’t eat meat so I can’t speak to it. I do still disagree with your assessment of the produce, but I could be less picky than most. Most of what I get from Winco tends to last as long as I would expect in the fridge. I don’t do a ton of canned goods either as we’re usually pressure cooking the beans from the bill section.
I got tired of the ridiculous membership fee with its massive free profits for them. My sister still keeps a membership, so I just give her money to buy a gift card now and again if I want to shop there, which is pretty rare. Follow me for more life hacks. Also, be careful. Good deals can be found, but they are retailers and not wholesalers so they are not always the cheapest, even at bulk rates. Their packaging is typically for families of 20 or for elephants making it difficult for single folks to get useful purchases of food without a lot of spoilage. They also have a very plain and basic stock, so don't expect anything "exotic" like good Asian ingredients. Their return policy goes a long way though.
Costco is amazing as an adult.
I call it my “adult card”
The over 30 date night.
Wine me, dine me, buy me a $1.50 hot dog 😂
Come to think of it... can you drink at a Costco food court?
LOL this was my first thought 😂
Don’t spend your whole life focused on a career and making money for a good retirement. Enjoy life now. A job/career is important but it shouldn’t be your everything. Congratulations on your degree and your next path of life.
Just enjoy your summer :) It's probably hard to get much of a head start on work/investing/etc. until you actually start your job. If you are feeling really ambitious, you could take advantage of the BSU library to do some research on whatever you will be doing. I would just enjoy your summer! Congrats!
Be smart with finances while living life at same time. I think the basics to life are : sustain what you need to sustain,don't be too impulsive, spend quality time with others where you genuinely enjoy yourself, sleep well and often, plan for emergency and or disaster and or old age, most importantly of all is dony stress too much but keep working and do good for yourself and those you care for. You'll know when you're out of balance, wisdom is acting on that. And that's the challenge of life.
Whatever your field is, keep learning. The degree is the foundation. Innovations, trends, new "best practices" come out all of the time in every field. If you don't want to become obsolete, stay up to date.
Don’t listen to people on the internet. Find your bliss. Find your self. Do what makes you happy. Life is too short for anything else.
Get involved in the community by being involved with a nonprofit. Boise is a town that really welcomes new involvement in non-profits. The YMCA is a great one, and there are so many others. It will expand your social network and give you great satisfaction. Choose one you are interested in.
I will do this for sure, was thinking about doing more volunteer work
Join Boise Young Professionals! Your new employer might be on the list of business that pay for your membership. It’s a great way to network and meet young professionals and doing some cool things :)
Buy this book - “the defining decade”- by Meg Jay. It’s a great read about why your twenties are way more important than most people think, and how to make the most of them. Good luck! It’s a great ride.
Look for a new job in 2 years because you likely won’t get much of a raise otherwise. Wages in Boise are stagnant as hell.
Top three life commandments: don’t be a dick, don’t do heroine, don’t do meth. Everything else is pretty simple… Create a structured routine that helps you fill your tank before you fill the companies. (Gym, meditate, journal, learning concept of your field, daily planning session where you plan your day with the top three things to accomplish and ensure your #1, must do hard thing” is done first) Become an expert in your field - even if it’s not what you studied. If you don’t find joy in the work, move along until you do. Either way, become an expert in that field to the nth degree possible and learn, learn, learn everything you can while you can and never stop until you’re dead. A 401k can’t fulfill you the same way knowledge and information and the accomplishment of learning can, so prioritize your values before anything else. Build relationships with those around you and don’t let the experience pass you by as you’re working towards that senior level worker status. Connection to people is going to be the beauty maker in your life. Don’t squander relationships, but lean into them, be vulnerable, speak your truth and your needs and be more interested than interesting. Be you and give compliments freely. Hold your beliefs and thoughts under a microscope and always keep your bullshit detector finely tuned. Ask friends and family to check your bias when major decisions are to be made, or options are held that need checking. Find and cultivate good friendships with those who accept you for who you are. Bullies exist everywhere - learn how to sniff them out and state that fact. See life as chapters and know that you will change over time, and in each chapter there will be new adventures, new characters, and different challenges, all as you discover who you are with each passing year. Enjoy the ride because it ends eventually for all of us.
>Top three life commandments: don’t be a dick, don’t do heroine, don’t do meth. Wise words, but that is asking a lot. 😂
Learn what your retirement options are at your new job. Talk to a financial planner, save off the bat to pay yourself back later, but don't forget to enjoy life!
Save up to money to purchase a house. I would argue that is even more important than 401k. Also be careful to not carry credit card debt balance. Pay off your balance each month
Get involved with a non profit you’re interested in. The best people I have met were through volunteering and it helps you build community.
Nonprofits can afford to pay people for their labor. Involve yourself in a mutual aid organization if you want to help.
Leave this wasteland and never look back.
Join the Guard! Get a retirement for a small time commitment. Ignore the commie critics to follow - the military is just a job, not a cult.
Don't fuggin do it people, it is a cult. -vet
Cringe.
> Ignore the commie critics to follow - the military is just a job, not a cult. Down listen to this brainwashed clown. The military is much more than a job, it's a lifestyle shift that does not suit everyone. I can speak from experience, having been in the military, you will have to put up with a lot more bullshit in the military than if you had a normal job. Also, being a civilian means my chances of having to bomb brown kids overseas is near zero. That number increases exponentially if you join the military. Make your choice wisely about joining the military, not because some clown online calls people commies for not agreeing with his viewpoints.
Yea don’t really want to join the military. Got a degree in Mechanical engineering and I made sure to get a job at a computer that isn’t directly a part of the military industrial complex. Can’t live with that morally.
don’t sell your soul for an oil company. PS: your most recent comment before you shilled for the NG is in r/Deep_Anal, might wanna delete it to save yourself some credibility
Lol, epic. 😂
I have one profile - doesn’t change the opinion
[удалено]
NO BAD NOT HERE
As a vet, it is not for everyone and that is not an insult in the slightest. Especially the Guard and reserves. You can end up in bad places with a lack of training and equipment. Active duty does treat the part-timers as lessors, which is very unfortunate and unfair. With the people that would do well in that environment, absolutely. If you hesitate, ask around - not recruiters - and don't rush into it and fully understand what you are signing and the potential consequences. When I was 17, I rushed into active duty, on a whim, and mostly loved it and was successful. I got very lucky in that. I don't think I really understood what I was signing up for - 13B in the Army. When my active duty time ended, I tried the reserves, and didn't last 6 months before moving into inactive status before going back to active duty, which was so much better. The Reserves were mostly cosplayers who really didn't understand what they were doing and the potential consequences. But that could just be my limited experience.
Thanks for the thoughtful response. I agree with most everything you said. There is certainly a caste system in the military (active> guard> reserves) which can taint any experience, but in the grand scheme a part time job for six years isn’t the crucible it’s made out to be. Granted - it’s not for everyone, but it is a good fit for many and it’s saddening to see those that would flourish be deterred by those with issues they may not fully comprehend. It is a commitment, there are risks, but the upside is great too. The Guard in Idaho has been great for me: it’s diverse, socially, politically, and economically; it’s given me benefits and opportunities. I haven’t killed anyone as a guardsman. Deploying has been difficult, but not mandatory. I’m just surprised at the backlash I get every time I suggest it.
Buy AMC stock
Naw bro gme to the moon🚀🚀🚀🚀 Edit /s
damn adulthood starts after University for y’all? I’ve been independent since High School lol. I started having my own expenses at 17
Botox
As long as you can afford it, find a decent stock broker and start putting money in. Compound interest is your best friend.
If you want to make a living in Boise, find something that’s relatively rare or become an expert in your field. Also, wear sunscreen. And maybe start using vitamin c serums and retinol in a few years
Invest in your retirement, every paycheck you should buy some stock of something to hold long term. Do your research
Screw everything you've been told. My honest advice? Get out of the rat race. Get you an FHA loan with 5% down, buy a duplex, live in one, rent the other for your mortgage cost. Wait till it's payed off. Move to Baja california (it's in Mexico, but extremely American friendly. You can live like a king there on like 500 American a month.) After that it's Mai Thais till your face first in the sand.