The Money Mustache Community

Learning, Sharing, and Teaching => Investor Alley => Topic started by: MVal on December 16, 2015, 04:14:20 PM

Title: Most of my bonus going to 401K for first time!
Post by: MVal on December 16, 2015, 04:14:20 PM

So since this is my first Mustachian year, I just made my election to defer the maximum percentage of my bonus to my 401K. When my boss presented me with my bonus amount that will come in for me next week, he just mentioned generally about the company matching and remarked that it can be hard to decide how much to put in since we'll never get to touch our bonus until we're over 60 if we put it all in the 401K, especially if we never leave this job. It's so strange to me now how people's attitudes are so different from mine towards retirement savings since I joined this group. I'm looking forward to the day when I can dig up my 401K and migrate it into a Roth IRA virtually tax free.

Title: Re: Most of my bonus going to 401K for first time!
Post by: pdxmonkey on December 16, 2015, 08:49:55 PM

Congrats!

Title: Re: Most of my bonus going to 401K for first time!
Post by: MrDanno96 on December 16, 2015, 09:15:03 PM

Well done!

Title: Re: Most of my bonus going to 401K for first time!
Post by: MVal on December 17, 2015, 11:02:17 AM

Since being part of this group, I find it harder to believe so many people don't choose to defer most of their bonus to retirement. I knew next to nothing about retirement before joining this forum and I certainly never thought it was possible to retire young.