Current Events > what % of your monthly salary do you contribute to your 401k?

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No_U_L7
06/28/21 7:53:11 PM
#1:


currently at 10%

but im thinking about cutting back to 5% after i buy my condo, just to have a bit more spending money for clothes/vacation
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QueenCarly
06/28/21 7:53:48 PM
#2:


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CE_gonna_CE
06/28/21 7:54:03 PM
#3:


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TheGoldenEel
06/28/21 7:54:42 PM
#4:


Whatever I have to to max out what my company matches

i think 6%


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Wii_Shaker
06/28/21 7:54:51 PM
#5:


Zero because tomorrow isn't promised.

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#6
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BignutzisBack
06/28/21 7:55:34 PM
#7:


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R1masher
06/28/21 7:58:48 PM
#8:


0%, but I put 10% of my salary to tithings which will pay out better in the long run

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Cleo_II
06/28/21 8:00:14 PM
#9:


8% but I plan on maxing once I start a new job
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Paragon21XX
06/28/21 8:00:44 PM
#10:


12%

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Unsugarized_Foo
06/28/21 8:00:53 PM
#11:


0%

Too poor

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Chicken
06/28/21 8:01:46 PM
#12:


I dont know how to do that

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Forever_Black
06/28/21 8:05:35 PM
#13:


15% because I know ima be a millionaire by the time Im 50

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#14
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Blue_Thunder
06/28/21 8:16:01 PM
#15:


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kyujo
06/28/21 8:17:59 PM
#16:


8% for now gets the max 10% added

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TheMikh
06/28/21 8:20:17 PM
#17:


i believe my employer offers a max of 4% matching

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Solid Snake07
06/28/21 8:23:44 PM
#18:


Don't have a 401k, pretty pointless unless your employer matches your contribution and I work for myself soooooo

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TrollTrace
06/28/21 8:26:59 PM
#19:


No u what do you do for a living bro?
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No_U_L7
06/28/21 8:28:39 PM
#20:


Solid Snake07 posted...
Don't have a 401k, pretty pointless unless your employer matches your contribution and I work for myself soooooo


how is it pointless if employer doesnt match?

mine doesnt match, but we also have a separate pension fund. i do both

TrollTrace posted...
No u what do you do for a living bro?


im an engineer
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Unsugarized_Foo
06/28/21 8:35:06 PM
#21:


cuh posted...
10%, my job matched 4%. I kinda want to pull my money out to buy a house (apparently you wont get hit by a fee if you use it for a home, but I forget what thats called) but I know that thats not recommended

Check with your employer first. Sometimes they wont allow that

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PatrickMahomes
06/28/21 8:36:13 PM
#22:


10, 6% company match

i went like three months without checking it a little while ago and man it really does start to climb. just set and forget

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FuriousFox
06/28/21 8:38:56 PM
#23:


25%, also $3000 annual company match. This should be enough to max out the yearly contribution limit.

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metralo
06/28/21 8:39:22 PM
#24:


5, just what they match me with


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LArcEnCieIX
06/28/21 8:40:46 PM
#25:


4% per week

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fan357
06/28/21 8:41:19 PM
#26:


30

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PC-Builder_Pony
06/28/21 8:41:22 PM
#27:


15%

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Solid Snake07
06/28/21 8:43:20 PM
#28:


No_U_L7 posted...
how is it pointless if employer doesnt match?

mine doesnt match, but we also have a separate pension fund. i do both


It's a pointless vehicle to do something I can just do myself. I have a roth that i max out cause the taxation is extremely favorable. The rest I just invest myself into stocks and some real estate here and there.

Now if you're employer is matching you you get an immediate 100% return on your money, so that's a no brainer.

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NeonOctopus
06/28/21 8:44:15 PM
#29:


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No_U_L7
06/28/21 8:45:17 PM
#30:


Solid Snake07 posted...


It's a pointless vehicle to do something I can just do myself. I have a roth that i max out cause the taxation is extremely favorable. The rest I just invest myself into stocks and some real estate here and there.

Now if you're employer is matching you you get an immediate 100% return on your money, so that's a no brainer.


It's safer than standars stocks
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Life Sympathy
06/28/21 8:45:40 PM
#31:


17%

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Sariana21
06/28/21 8:48:10 PM
#32:


I maxed out my 403(b). My employer/provider did it by dollar amount, not percentage.

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Solid Snake07
06/28/21 8:49:29 PM
#33:


No_U_L7 posted...
It's safer than standars stocks


You can just buy index ETFs if you want to play it safe and not pick individual stocks. Most(basically all) 401ks are just going to give you a standard market return anyway.

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Rohccoo
06/28/21 8:55:51 PM
#34:


15% pre-tax
35% for mega backdoor roth

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CableZL
06/28/21 8:56:54 PM
#35:


2.5%

My job matches 2.5%, but I put the the vast majority of my disposable income in the stock market myself.

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uwa ej
06/28/21 8:56:55 PM
#36:


Solid Snake07 posted...
You can just buy index ETFs if you want to play it safe and not pick individual stocks. Most(basically all) 401ks are just going to give you a standard market return anyway.
401ks and IRAs grow tax free
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littlebro07
06/28/21 8:59:27 PM
#37:


TheGoldenEel posted...
Whatever I have to to max out what my company matches

i think 6%

this but its 4% for me

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voldothegr8
06/28/21 9:10:15 PM
#38:


No 401k, but 15% or so goes to a pension fund
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bigblu89
06/28/21 9:11:58 PM
#39:


7%

The maximum amount that my job matches.

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No_U_L7
06/28/21 9:12:04 PM
#40:


voldothegr8 posted...
No 401k, but 15% or so goes to a pension fund


i have both which is why i dont mind cutting the 401k back a bit to free up some cash
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emblem boy
06/28/21 9:13:06 PM
#41:


20%
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ROOTFayth
06/28/21 9:17:48 PM
#42:


I do not have a monthly salary
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No_U_L7
06/28/21 9:19:54 PM
#43:


emblem boy posted...
20%


damn...
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#44
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Solid Snake07
06/28/21 9:44:00 PM
#45:


uwa ej posted...
401ks and IRAs grow tax free


Index ETFs grows tax free unless you sell them. Roth IRAs don't tax withdrawls of your returns when you reach retirement, so I highly recommend them. But a 401k would be pretty useless(for me)

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No_U_L7
06/28/21 9:45:01 PM
#46:


Solid Snake07 posted...


Index ETFs grows tax free unless you sell them. Roth IRAs don't tax withdrawls of your returns when you reach retirement, so I highly recommend them. But a 401k would be pretty useless(for me)


I actually have both 401k and Roth ira. Was combining them into 1 for the purpose of topic. I have 5% in each
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Solid Snake07
06/28/21 9:45:03 PM
#47:


JustMyOpinion posted...
Roth has a much lower limit than a 401k.


Not really relevant

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Solid Snake07
06/28/21 9:49:53 PM
#48:


No_U_L7 posted...
I actually have both 401k and Roth ira. Was combining them into 1 for the purpose of topic. I have 5% in each


The minimum rule of thumb recommendation is 15%. I would recommend 25% if it's doable personally, especially when you're young.

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bkkorps
06/28/21 9:51:03 PM
#49:


Solid Snake07 posted...
It's a pointless vehicle to do something I can just do myself. I have a roth that i max out cause the taxation is extremely favorable. The rest I just invest myself into stocks and some real estate here and there.

Now if you're employer is matching you you get an immediate 100% return on your money, so that's a no brainer.

you are ignoring the tax benefits of investing pretax vs post tax. you are voluntarily investing ~30% less money by not using a 401k.

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No_U_L7
06/28/21 9:51:45 PM
#50:


Solid Snake07 posted...


The minimum rule of thumb recommendation is 15%. I would recommend 25% if it's doable personally, especially when you're young.


Def can't do that, im about to buy a condo that's 3.5k a month. And I already spend a lot monthly on clothes and vacation. I'll probably try to leave it at 10% to see if I can manage but I may end up reducing it
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