First post here, thanks!
I've just finished my first year of post-college full time employment. I finished school with no student loans or debt of any kind, and in the past year I've saved a little over $30k.
Here is a current snapshot:
Age
24
Monthly Income
$4k, after taxes
Monthly Expenses
$250 - rent (incl. utilities)
$50 - phone
$1000 - discretionary (gas, insurance, fun, etc)
Assets
$30k
Liabilities
$2500 truck (cash value)
$3k per year in repairs
My question:
I'd like your thoughts on a 401k. Would you contribute only what my employer will match (around $4k), or would you contribute the maximum amount of $17k? The latter is attainable at my current spending rate, but at the cost of flexibility. A 401k isn't of much use if I'd like to retire at 34.