If the 401k limit is no less than 28% of your income, that’s a fairly low salary, although not totally unreasonable for a new grad.

My suggestion would be to focus on getting to be an excellent engineer. Ask for raises at every cycle. Put in 18-24 months at your current job. Then you should be able to get significantly higher comp at the next one.

When you get a higher salary, don’t increase your expenses.

As a new grad you’re not going to become a millionaire overnight. Building wealth is a game of patience.

But you’re already saving a lot, and that puts you ahead of the curve. Especially since you’re doing it early in your career when it will have the most time for interest to compound.

Put in 10 years of career growth without spending growth and you’ll find yourself socking away a whole lot of money. Put in 20, 30 years and you’ll find that wealth has grown.