Reply to At what HHI did you start fully funding your 401k?

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[quote=Anonymous][quote=Anonymous]Fund it fully from the moment you get your first job.  Cut other expenses to the bone if you need to, but you have to assume that what you save will be all you will have. [/quote]

I just don't think this is realistic for many people in the DC area. You can cut as much as you like, but you still have to live somewhere, eat, and many people have student loans.

Personally, my first job at $41k just didn't allow for fully funding a TSP at the time at $15.5k given my obligation to repay my student loan. And to live somewhere. Even in a group house where I shared a bathroom my rent was still $550 a month, plus utilities. I funded to the match and then at each step increase or COL back when we used to get those, I just funneled that into the TSP until I finally did reach the max. But it took time.

At the same time, I figure I have to work roughly 40 years to be eligible to collect all portions of my retirement, so those first 5 years where I didn't make the maximum will be long forgotten by the 35 years in which I do save the max. [/quote]

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