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NaturalWorth939 t1_j1ofnr1 wrote

It is a good salary but unfortunately housing is killing people’s budgets these days. I would say if you can live simple, don’t always get the newest phone or the newest cars. And look hard for reasonable housing (whatever that is these days) you’ll have your bills paid and be able to contribute to 401k, IRA, savings. But truth be told, most people’s problems come from buying things they can’t afford and living above their means. You’re off to a good start it seems.

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anonymous_plus_ultra OP t1_j1ogaf9 wrote

my dad saying to contribute 25% to 401k

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ghost_robot2000 t1_j1oi133 wrote

If you're living at home you could. It's not a bad thing to do if you can. I just could never afford to do more than the 6% that you need to get the company match where I work. I moved out right away after college. Even if living at home and saving money was the right move financially, there's no way I could do it for my sanity.

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imMakingA-UnityGame t1_j1qkvho wrote

Thats stupid. Do your 401K employer match Then max your Roth IRA with extra Income. You need to go to /r/personalfinance and read the wiki.

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hombre_lobo t1_j1q62r6 wrote

Because your dad know when carrying you financially and that now is the time to do so.

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[deleted] t1_j1og4yr wrote

[deleted]

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ghost_robot2000 t1_j1ohrpx wrote

If they're paying a mortgage or rent without a spouse or roommates contributing, 73K could be rough in NJ because housing prices are so ridiculously high.

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