We recently had a conversation with another couple. During the discussion they mentioned that they only contributed enough to their 401k accounts to get their employer match. They maintain that they do not earn enough to max out their 401k contributions. Now that sounds like a fairly typical argument; however, from past conversations we learned this couple has an annual income over $250,000 per year! How crazy is that!
Maxing out 401k contributions would amount to less than 15% of this couple’s income. This conversation really underscored the point: Most of Us Do Not Live Below Our Means
[Read more…] about Living Below your Means: What Does it REALLY Mean?
By 30, you should have a decent chunk of change saved for your future self, experts say — in fact, ideally your account would look like a year’s worth of salary, according to Boston-based investment firm Fidelity Investments, so if you make $50,000 a year, you’d have $50,000 