Personal Finance

3749 readers

2 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

[email protected]

Employer stopped matching 401k (lemmy.ml)

submitted 1 year ago by [email protected] to c/[email protected]

8 comments fedilink hide all child comments

So, times are tough in the tech world and my company decided that in addition to no bonuses/ stocks for the foreseeable future, they also want to stop matching our 401k contributions.

They say this is temporary, but it's already been 6 months. I'm in my early 30s, so I still have quite some time before retiring. These small differences now will compound in the long run, and I'm starting to think I should look for a new job.

Does my view of these small missed contributions actually being a big deal make sense, or is it something I should wait out?

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 1 year ago

Bonuses are discretionary. Stock is questionable, especially if it is not immediately 100 percent vested, 401k tells me they are completely out of money and can't / won't source additional funding.

In tech, you should always be looking at the next job, even if you are comfortable where you are. Loving what you do, who you work with, work life balance can all offset certain amounts of money, but knowledge and experience is either always growing or growing stale. I'm guessing at early 30s, you are not in an exec position and changing companies with lead to faster career growth than sticking around for the company to turn around it's books and promote you.