Young Professional Employment Issue

Young Professional

I am a young professional who graduated from the University at Albany five years ago. I currently work for Robert Half's Accounting firm at an annual salary of 39,000 after taxes. I feel I am under paid for an accounting so I am considering a job change. I started a 401(k) plan after being employed with the company for a year. The amount of my 401(k) is 7000.00 with the help of some contribution from my employer. Hopefully If I decide to stay I will make it five years and become vested. I am a pretty good saver so I decided to buy a new Toyota Camry for 18,000. I agreed to a four-year loan at 5.5% from SEFCU credit union. At this moment I have 2000.00 in my checking account and stashed away 8000.00 in my savings account. I have a credit card with a 2000.00 balance and because I like to save I only pay the minimum amount of 50.00 which is due every month. I am only paying 20.00 to my principal so the credit card company is getting rich off me. I am also paying 250.00 a month in student loans from my days at Hudson valley. My biggest expense is my housing and luckily for me because I have a roommate with whom I split all household bills down the middle. My rent would be 700.00 but I only pay half which is 350.00 a month. We found a place that includes heat and hot water for that price so we lucked out. I pay another 200.00 a month (my portion) for cable, groceries, electricity and other misc. things. I also use my cell phone which cost me 50.00 unlimited with boost mobile.

Employment Issue

I have worked for this firm for a steady five years. I enjoy my job but feel I am underpaid so I am looking elsewhere for employment. The accounting field is very competitive but I feel I have the experience and the education to be a viable option for anyone looking for a hardworking Accountant. I have five years' experience with Robert Half's Accounting firm and one year with Jackson & Associates Accounting firm. I am looking in the private sector for employment. The reason is that the pay is higher than the government and at my age I rather make the money than have great benefits. I applied and I am being considered for a job that will increase my net pay by 20,000 per year. At the same time I will have less days off and my retirement plan will take a hit. Do I really want to throw away my opportunity to continue my retirement growth or do I want to make the money now. Those are the things I am tossing up in the air to decide which way I want to go. I am now vested so if I do leave I can roll retirement over to another plan even though this new company does not match my retirement contribution like my current employer.

Credit

My credit overall is in good standing. I am considering paying off