My company’s 401k person came in to sell their wares, and I did that inflation math in front of them. I think I made a lot of employees afraid for their future.
Is that vesting for each contribution? For every company I’ve worked at, it’s 0% vested until X years, then 100% immediately vested for all contributions.
My company is similar, but over 3 years. It’s a weird way for them to save a few thousand bucks per employee who quits (since you get the full amount by the 3 year mark).
If you put your money in index funds, you can expect it to beat inflation by about 7-8% on average, especially over the course of a decades-long working career. It’s usually not worth it to ever look at the non-adjusted projected value.
My company’s 401k person came in to sell their wares, and I did that inflation math in front of them. I think I made a lot of employees afraid for their future.
Did they even match? No match is madness.
50% up to 6% (so 3%). But its vested over 5 years… which is a middle finger if you ask me.
Is that vesting for each contribution? For every company I’ve worked at, it’s 0% vested until X years, then 100% immediately vested for all contributions.
It’s 20% per year. It’s not… bad… but this 401k is going to be a joke when I retire.
My company is similar, but over 3 years. It’s a weird way for them to save a few thousand bucks per employee who quits (since you get the full amount by the 3 year mark).
Or gets laid off… if they fire them, they should have to pay 100%
If you put your money in index funds, you can expect it to beat inflation by about 7-8% on average, especially over the course of a decades-long working career. It’s usually not worth it to ever look at the non-adjusted projected value.