Make it sustainable is a good suggestion. Can also involve paying for executive coaching or trying to get the company to cover it if you are in an executive role. these roles are difficult and sometimes don't involve much training, but it can be worth it to use a % of the salary to cover it if it makes the role more sustainable.
I am going to chime in here and (maybe you covered this already) don’t forgot to set it and walk away with your 401k contributions and never forget to rollover! 529s are also amazing.. haven’t gotten there yet with funding but will get there in a bit. Also if you’re a faang partner (which I am) go ahead and step in and think through financial planning. Those partners are busy fighting fires. Get some heavy lifting done too!
I bring this up because as a former administrator I noticed some people just forgot about their 401ks after departure. But I also did leave my 401k with a former employer not because I wanted to I just got lazy … then moved over to an ira purely to keep everything in one place. But would love to better learn how you found out more about associated fees
I actually think people should fully understand their options before taking their money out of their old employer 401k. I still have my money with my Meta 401k because it has options I can't get myself at lower fees than those available other wise. It also allows me to easily to the Backdoor Roth IRA (which would be complicated if I had the funds in a rollover ira).
Who is Rohan? Haha, I think I misses the backstory
👏🏻👏🏻👏🏻
And - this applies to any high paid worker, really 👍🏻
Except Rohan
Good post!
I like the part about keeping taxes boring. I personally like Alex Hormozi's take on this: https://youtu.be/w5g0JiO7OdE?si=cBW49cjhd0Ph4Mbn
tl;dr: Basically he's played all the fancy tax games and decided its simpler and better to just make money pay your taxes, and move on.
Don't even need to be highly paid for most of this to be true. Complicated insurance products are BS for nearly everyone.
Make it sustainable is a good suggestion. Can also involve paying for executive coaching or trying to get the company to cover it if you are in an executive role. these roles are difficult and sometimes don't involve much training, but it can be worth it to use a % of the salary to cover it if it makes the role more sustainable.
I think Rohan stopped reading halfway through “Boring is OK”. If Rohan stops reading your posts, does he still exist?
Schrodinger's Rohan?
I am going to chime in here and (maybe you covered this already) don’t forgot to set it and walk away with your 401k contributions and never forget to rollover! 529s are also amazing.. haven’t gotten there yet with funding but will get there in a bit. Also if you’re a faang partner (which I am) go ahead and step in and think through financial planning. Those partners are busy fighting fires. Get some heavy lifting done too!
I bring this up because as a former administrator I noticed some people just forgot about their 401ks after departure. But I also did leave my 401k with a former employer not because I wanted to I just got lazy … then moved over to an ira purely to keep everything in one place. But would love to better learn how you found out more about associated fees
I actually think people should fully understand their options before taking their money out of their old employer 401k. I still have my money with my Meta 401k because it has options I can't get myself at lower fees than those available other wise. It also allows me to easily to the Backdoor Roth IRA (which would be complicated if I had the funds in a rollover ira).
Did you write a blog about this? I’d love to read this.
I need to make a full post! I have a recent linkedin post on this though: https://www.linkedin.com/posts/andrenader_it-cost-me-24-or-23-now-to-keep-my-activity-7260717967053643776-00ze/
What are some goods or services that could make working at tech company more enjoyable?
That is an entire post! For me it was more frequent house keeper. Grocery Delivery services. Upgraded home office setup. Moving to a nicer place.
I would love to see a post on this!