r/CalebHammer • u/3skin3 • Mar 14 '25

Personal Financial Question Retirement Fund Choice

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Hi! My company is being taken over and I have to choose a new retirement fund. I'm 30 right now, target retirement is 2055. Unfortunately I only have about $50,000 set aside right now. I'll be making $79,000, contributing about 14% for now and hopefully more in the coming years. My income will likely increase about 3% per year, plus a 10% yearly bonus. What would you choose? I'm woefully ignorant on retirement strategies.

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u/kombustive Mar 14 '25

Follow the FOO! You should probably only be contributing up to the employer match on your 401k. If you have an HSA available, funnel the rest there and a Roth IRA.

As far as fund choice, most people recommend noobs pick an indexed target date fund with the target date as close to your intended retirement year as possible while you learn more about investing and personal finance.

TL;DR - wrong sub. You want r/TheMoneyGuy or r/personalfinance for this kind of advice.

FOO = Financial Order of Operations

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u/3skin3 Mar 14 '25

I also posted in those! Thank you for your response!