Originally Posted by
amcnd
401k is huge!! Seems so simple to say. Na. I will wait tell i get to a Major for retirement.. but the best years are your young years!! Simple 4% match on 45k in 35 years will easily grow to $79,000.. Best advice i got back in my early 20’s was to max out my 401k... So glad i listened to that advice..
I did the same. I couldn’t afford to eat out or take even moderately priced vacations for a while, but I put 20% of my gross away every month. I also worked a part time job outside of aviation to be able to pay the bills because there wasn’t much left after I put that money into savings. I was taught that you’ll acquire more wealth if you start early rather than wait until savings is just discretionary income and it has paid off huge. I will be able to retire with no difference in my standard of living and be financially comfortable for the rest of my life.