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Asking this question on HN is probably not the most effective way to understand what "millennials" value, but I'll offer my anecdote. My #1 priority is to have
by kody 8y ago
Asking this question on HN is probably not the most effective way to understand what "millennials" value, but I'll offer my anecdote.
My #1 priority is to have $10k in emergency savings. I guess that's my version of short-term savings.
Once I've hit $10k in liquid savings, I try to max out 401k and Roth IRA contributions. I am working towards having enough for a good down payment on a house by the time I am 30-32 (~10 years from now).
- trcollinson 8y agoOut of curiosity, why would you max out your retirement contributions if you are trying to save for a good down payment on a house?
- sethammons 8y agosome of those let you pull out tax advantaged for your first house.
- trcollinson 8y agoTrue some will though I believe only $10,000 without taking the tax penalty. Definitely worth talking to a cpa before making any decisions.
- megaman22 8y agoAs far as I'm aware, you can pull your contributions out of a Roth IRA without penalty - they are post-tax dollars when they go in, until a regular IRA or 401k. Earnings and returns are different.