[USER]

Hi everyone, I hope I’m not overreacting but I’m feeling a bit anxious as I enroll my companies 2025 benefits which has led me to dig into my current options and benefits like my 401(k) and HSA accounts.

I’m 29 and have $29,000 in my 401(k) and I’m close to maxing out my HSA contributions annually, but not quite at the limit.

However, I’ve come across recommendations that by age 30 you should have an amount equal to your annual salary in your 401(k) account and I’m not anywhere near that yet.

I’m currently contributing 11% to my 401(k). Should I be concerned about my savings progress?

[Sara]

You’re fine. Some people don’t even begin their careers until 29 or later.

Keeping bumping up contributions until you’re maxing out, the sooner the better.

You have the benefit of time on your side.

At the same time, minimize debt and keep housing, transportation and food expenses low enough that you can execute on whatever investment strategy you decide on.

[Kathy]

With all the high costs of housing and food anything is better than nothing. Always match you work Ira.

I have my daughter matching her work and contributing to Roth IRA with fidelity outside of work because the fees are high with her work program and not as many options

[Joel]

A positive net worth probably puts you in the top 10% of the developed world

[Christyna]

Don’t be concerned. Just keep digging in, saving & investing.

[Thùy]

Being concerned only stresses you out. Gotta always keep a positive attitude!

If you’re not in debt, you’re already one step ahead.

[Author]

Posts