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This will be my first ever 401K from my employer! Unfortunately never really had anything like this for years for many reasons but now I have the option. My expenses are sadly high (out of my control to some extent) so every paycheck it's pretty much gone however I have other passive income that I can mostly rely on. Questions: - Not knowing the best option for 401K (using Fidelity investments), what is recommended for getting the max out of it? Any specific options? Anything I should avoid or opt in on in terms of plans? - Currently set my pre-tax to 40% Thoughts? Advice? Recommendations? the goal is to maximize as much as possible and be savvy. Thank you
Dude, it's a wrong forum to ask. Specifically for Microsoft, check aka.ms/invclub You can find there much more relevant info than asking on Blind.
Thanks!
Fidelity site has a lot of learning aids that would be good to go over. You can also call them and speak with someone about each of their available funds. You're contributing 40% but not knowing your TC (and hey.. TC or GTFO) hopefully it's at least the minimum to get the company matching.
Contribute to max match by employer. It’s free 9500 per year
I’d suggest you get out of debt before you start investing (if you have any at all)
That's what I'm trying to do. Almost out of the main debt
That’s awesome! Just keep at it and then start investing at least 15% of your income into growth mutual funds