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Originally Posted by ericfox11
Like the financial advisor said, at least 15% to tax advantaged retirement account if possible. The more you can contribute at a young age makes a huge difference. I'm not sure how old you are, but I'm 24 and save 15%. My rough calculations are your families post tax income is around $200k, so you have enough money to max out your accounts. If you are with a company that supports a 401K, contribute the max $17K to it (if it has good options).
You will get a lot of advice from the planner you are meeting with, so that is a good idea. Do some research on the fees he charges though. More than likely he is going to put you in an aggressively diversified asset allocation and rebalance every so often, all while skimming a 1-2% return off of your total return. You can easily keep up with this yourself with a quick read of a couple of books and keep that 1-2% to yourself, which can make 100s of thousands of dollars difference at retirement. If you want to dig into this more, check out this site http://www.bogleheads.org/forum/view...18bca9fddb5635 |
Yea making that kind of money, you should be going to a financial advisor. An advisor can't do much with my 70k a year.