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

(+) Yeah! (+)

Currently 7.5% of my paycheck goes towards a deferred compensation plan. When I get a 401k job I plan to do the max contribution. But I'm in a unique situation so nothing I post should be taken as something the avg person does.

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Er, my what now?

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10% myself and about 20% employer contribution.

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15%
My employer contributes nothing because they kind of suck.

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chrono625 posted...

10% myself and about 20% employer contribution.

Wat
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3% to get the match.

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No_U_L7 posted...

Wat

I contribute 10% of my gross, my employer contributes 18.7% of my gross.

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chrono625 posted...

I contribute 10% of my gross, my employer contributes 18.7% of my gross.

Why would they do that
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10% due to employer matching. Otherwise Id probably just put it into my stock portfolioas even without the tax benefits Id come out ahead due to better returns.

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I have some money in a company ira from a previous job that I'm contemplating rolling over to my 401k or a new roth.

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No_U_L7 posted...

Why would they do that

because thats what was negotiated.

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6%, which is my companies max match

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6%, since the company matches that. I'm hoping to find an employer that matches a higher % in my next job though.
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I'm at 10% also TC

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0%. I'm keeping everything. >_>

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8%

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Idr

Probably like 12% + match

It was enough that i'll max it out by the end of the year or a little earlier

Also maxing out IRA

Feels good
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10% with my company matching 5% of it. Prior to that it was 25%

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11

g980 posted...

Idr

Probably like 12% + match

It was enough that i'll max it out by the end of the year or a little earlier

Also maxing out IRA

Feels good

i keep forgetting about the max

looks like 401k max is 19k

and roth is 6k

i actually am maxing out the roth

so if i lower maybe ill take like 2% out of 401k
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I'm surprised you qualify for a Roth with the amount of money you talk about throwing around. The income limits are annoyingly low.

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 max out your ira, so wouldn't a 401k be good for the tax benefits before putting money in a brokerage account(if that's what you're doing)?

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realnifty1 posted...

I'm surprised you qualify for a Roth with the amount of money you talk about throwing around. The income limits are annoyingly low.

Theres a limit?

I thought it was just the 6k contribution limit

Looked it up....I literally wouldn't qualify for it any more after next year's raise

Thanks for the heads up, had no clue
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Look up backdoor Roth IRA if you're going to be over the limit for Roth IRA
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20%
No_U_L7 posted...

Def can't do that, im about to buy a condo that's 3.5k a month.

Dang that's alot. Where do you live?


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emblem boy posted...

Look up backdoor Roth IRA if you're going to be over the limit for Roth IRA

Sounds sexy

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-20%

sutree posted...

20%

Dang that's alot. Where do you live?

CA, see this topic

https://gamefaqs.gamespot.com/boards/400-current-events/79538150
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Huh I really don't know how much I'm contributing, I forget what I set it to oopsie doopsie

Probably however much is being matched maybe

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I max it out annually, which turns about to be 20-25% depending on my bonus and other stuff that might wobble my income.

I also try to front load it as much as possible, to get that maximize that sweet time value of money. So I'll set it for 50% for the first half of the year and switch it to 6% as optimal for employer match and trying to hit the limit on my last paycheck of the year.

I also also try to contribute the full amount to my Roth IRA as soon as I can in January, though that depends a little on how much Christmas has cleaned me out.

Oh, and I'm basically using my HSA as another retirement account.

In summary, I'm trying as hard as possible to retire early, possibly at the expense of living it up in my relative youth.

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NightRender posted...

I max it out annually, which turns about to be 20-25% depending on my bonus and other stuff that might wobble my income.

I also try to front load it as much as possible, to get that maximize that sweet time value of money. So I'll set it for 50% for the first half of the year and switch it to 6% as optimal for employer match and trying to hit the limit on my last paycheck of the year.

I also also try to contribute the full amount to my Roth IRA as soon as I can in January, though that depends a little on how much Christmas has cleaned me out.

Oh, and I'm basically using my HSA as another retirement account.

In summary, I'm trying as hard as possible to retire early, possibly at the expense of living it up in my relative youth.

jesus, forget living it up...how do you live at all on 50% lol
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No_U_L7 posted...

jesus, forget living it up...how do you live at all on 50% lol

There is a fair bit of juggling between short and long term savings. Also my bonus is in February, so that typically covers the hole I've dug myself in.

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