I have to start filling out my paperwork and stuff. My job matches up to 4% so I know to do at least that much, but what is normal beyond that? It says you can
contribute up to 60% but that's a lot!
What % do people normally contribute to 401K?
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 AshJs3 |
What % do people normally contribute to 401K? |
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Posts: 63761 (11/12/2008 8:54 PM) |
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kerlifries |
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Posts: 13623 (11/12/2008 8:55 PM) |
I do 4% because thats what my company matches
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Ducky Luv |
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Posts: 25132 (11/12/2008 8:56 PM) |
I do 6% because my company matches up to that.
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LauraN1234 |
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Posts: 2823 (11/12/2008 8:56 PM) |
I do 4%. For about 20 years my dad did 10%. Smart if ya ask me...
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AshJs3 |
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Posts: 63762 (11/12/2008 8:57 PM) |
So about 6-10% would probably be good, then?
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Jaime04 |
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Posts: 1853 (11/12/2008 9:04 PM) |
I do 10%. It saves tons on taxes!
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bebegrl |
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Posts: 1204 (11/12/2008 9:04 PM) |
I get 10% taken out. I was contributing 13% at one point but the economy sucks and I'm losing too much money.
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BassAckwards |
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Posts: 1521 (11/12/2008 9:14 PM) |
My boss puts in 3% and I put in 5%.
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Lilpeach85 |
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Posts: 108484 (11/12/2008 9:16 PM) Justin Fanatic '05
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My dad does 10%. And he made me do 20% since I am living at home.
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 forever121young |
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Posts: 9591 (11/12/2008 9:17 PM) |
kerlifries wrote: |
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Moon and Star |
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Posts: 41651 (11/12/2008 9:17 PM) |
I put in 6%. My company matches 50% of what we put in up to 6%.
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lilpeepers |
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Posts: 179 (11/12/2008 9:23 PM) |
I have done that max that I could afford for years now. Sadly, it's mostly gone today. I have hope that the economy will recover, but it will take a lot of
years to make up the loss.
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AshJs3 |
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Posts: 63764 (11/12/2008 9:29 PM) |
That's what is so frustrating. I feel like I should just say eff it and hide it in a box under my bed or something! My co-workers have lost so much over
the last few years.
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forever121young |
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Posts: 9592 (11/12/2008 9:42 PM) |
^ You have how many years until retirement? 30,40? You'll be fine. In fact, people our age should be buying stock like mad right now.
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AngelJC718 |
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Posts: 37887 (11/12/2008 9:43 PM) |
forever121young wrote:That's what so many people have been telling me, but I don't know jack squat about that at all. Right now I do 3% and my company matches it. |
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LookAtMelmAStupidTeeny |
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Posts: 78818 (11/12/2008 9:57 PM) Funniest JJBer '03
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I do 10%. You might want to consider using a Roth IRA. Your company won't want to put their matching amount in one, though. With a Roth, your contributions
will not be tax free, but you will not escape paying taxes. You can pay them now or you can pay them later. Or in some cases, you can pay them now and later.
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BonoU2Suz |
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Posts: 2240 (11/12/2008 9:58 PM) |
I put in 6%
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AshJs3 |
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Posts: 63771 (11/12/2008 9:59 PM) |
I have heard about Roth IRA's but I don't really know what they are.
I need to read my Suze Orman book! |
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Certainly Not Dcutie |
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Posts: 12827 (11/12/2008 10:19 PM) |
I just went from 3 to 5.
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cryinblue |
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Posts: 13128 (11/12/2008 10:20 PM) |
I do 10%, but I might lower it to 6%.
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emilynyb |
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Posts: 7676 (11/12/2008 10:23 PM) |
I do 10%. Contribute what you can afford, because now is a good time to buy.
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