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Originally Posted by Mosaud1998
I had a retirement account set up with my previous employer that I worked with for 4 years. I left the company almost a year ago. I don't plan to stay with my current employer for too long. I am trying to get out of the automotive sales field and get into more of an automotive corporate level(District sales manager etc). Hence, why I have decided not to enroll in the retirement plan my current employer has.
I have not taken the money out of my old retirement account. I am going to leave it there. My 4-year rate of return is 12%. In the meantime, while I am still with my current employee, I was thinking about putting 15% of my check every week into the stock market. I am not sure what stocks to put the money in for the long term.
Right now I have some money invested in Tesla, NVDA, Costco, AMZN, MSFT, AAPL, GOOGL, AAL (stupid decision  ), AMC (another stupid decision), etc.
My employer matches 1%. For reference, I will be 26 years old in 13 days. Maybe I should just enroll with my employer's retirement plan and have them take out 1% of my check every week? Not sure, what do you guys suggest? |
Employer match is free money. Free money is good. More detail is needed - is it a 401k plan, or something else? Is there immediate vesting of employer match? If yes, enroll in the plan. If no, do not enroll in the plan because you state you will move on soon.
Save 10%-20% of your pay (before- or after-tax, to me it doesn’t matter but rather it establishes a habit). After you sort out the employer program questions above, invest the remaining funds in a Fidelity Roth account in which you will invest half of the contributions in SPY and the other half in QQQ. Don’t touch the money until your full retirement age, 67 years old.