dmhanson511
New member
Diagram is of my current annual budget.
I am a 44-year old electrical apprentice, currently making just shy of $30/hour in a HCOL city. All of my medical benefits and retirement are paid by my employer. I value good food and travel, so those budget categories skew high.
I lost all of my (admittedly meager) retirement funds in a divorce. I'm due for a $2.48/hr raise in May and am considering whether I want to put $2/hr into an un-matched employer-provided 401K. Going forward, I would add another $2/hour with each raise (they come 3x/yr) until I have maxed out allowable contribution. This would be on top of the 3 pension funds that my employer pays for. On the other hand, I could also use that raise to increase the amount saved toward emergencies, and I will be needing to replace my car in the next couple years.
Thoughts?
https://preview.redd.it/2tgasoi3tjr...bp&s=b48c789341f35d607f74fe7f6b14c78f778b2451
I am a 44-year old electrical apprentice, currently making just shy of $30/hour in a HCOL city. All of my medical benefits and retirement are paid by my employer. I value good food and travel, so those budget categories skew high.
I lost all of my (admittedly meager) retirement funds in a divorce. I'm due for a $2.48/hr raise in May and am considering whether I want to put $2/hr into an un-matched employer-provided 401K. Going forward, I would add another $2/hour with each raise (they come 3x/yr) until I have maxed out allowable contribution. This would be on top of the 3 pension funds that my employer pays for. On the other hand, I could also use that raise to increase the amount saved toward emergencies, and I will be needing to replace my car in the next couple years.
Thoughts?
https://preview.redd.it/2tgasoi3tjr...bp&s=b48c789341f35d607f74fe7f6b14c78f778b2451