Quote:
Originally Posted by Toxigen
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I mean I get this but....
How do you figure 18%? Its 6k / year right now.
I'd let them set it up for themselves (VTSAX @ $500 per month). Just stress that they max it out every year. Nothing else matters more when you're young and earning less than $100k / year.
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It's more about developing the habit, and 18% of whatever they earn still gives them money to spend, when they're not making enough to max their contribution with that percentage