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Posted: 12/17/2005 3:50:36 PM EDT
[#1]
I would love to put 15K in every year but that is almost half of what I earn a year. I do 10% and Hope I can use it before I die |
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Posted: 12/17/2005 4:01:46 PM EDT
[#2]
+1 |
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Posted: 12/17/2005 4:03:40 PM EDT
[#3]
I use to do 20%, but backed down to 15%, my company matches up to 6% or more, depending on how well it performs.
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Posted: 12/17/2005 4:13:00 PM EDT
[#4]
Max it out...put everything in there that you possibly can. When I retired 2 years ago, I had been putting in 22% between 401K and employee stock purchase. It grows incredibly fast that way, and the sacrifice now will pay great returns in the future. ;-)
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Posted: 12/17/2005 8:30:08 PM EDT
[#5]
Did it once!  But I'm paying myself back at 15%! I'm raping me on interest charges! |
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Posted: 12/17/2005 8:33:05 PM EDT
[#6]
87%
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Posted: 12/17/2005 8:34:22 PM EDT
[#7]
I put 4% in.
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Posted: 12/17/2005 8:35:43 PM EDT
[#8]
Yous is really that high? I thought there was some sort of cap on it...? |
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Posted: 12/17/2005 8:38:35 PM EDT
[#9]
1. As much as your employer will match (if any). You can't afford to leave free money on the table (no one can).
2. If there's not match or you already max the match out, then it depends how old you are, what other obligations you have, etc. etc. |
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Posted: 12/17/2005 8:42:32 PM EDT
[#10]
You really should put a smiley or something after that. Some folks might think you are serious. 
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Posted: 12/17/2005 9:48:38 PM EDT
[#11]
I was completely serious. I cannot put more than 18% of my pay into my 401k. I think it might've gone up this year, but I know I couldn't put 80%+ into that sucker. |
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Posted: 12/17/2005 9:56:01 PM EDT
[#12]
The law does not set a percentage limit, only an annual contribution limit. Your plan may vary.
I put 22% in mine. |
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Posted: 12/18/2005 2:16:18 AM EDT
[#13]
Assuming your company's 401K offers decent investment vehicles:
1. Contribute enough to max out your company's match, then... 2. Contribute the max allowable to a Roth IRA (If you don't have one, you can set one up with a good mutual fund company that also offers brokerage services fairly cheaply - Vanguard and Fidelity are two examples), then... 3. Any retirement savings left over should go into the 401K until that plan is maxed. Reasons 1. Company match is free money. In your plan, that is a 50% profit from the git-go 2. Roth IRA has the best tax advantages. If a company didn't offer a match for its 401K, then my advice would be to max this plan before contributing to a 401K. This is my situation. 3. Back to the 401K to lower current income taxes and accrue earnings tax deferred. This advice is best for probably 90% of earners. |
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Posted: 12/18/2005 9:27:47 PM EDT
[#14]
15%, of which 9% is put in by the company. They pay the 9% on salary AND bonus...which is unbelievable....................
Michael |
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Posted: 12/19/2005 1:32:56 AM EDT
[#15]
Yeah, we all wish we could put in the maximum contribution, but sadly for myself as of last year the maximum was over half what I make a year. I've really got to finish this degree. As to using it before I die, I just have my mother as my primary beneficiary. Sobering to say but I expect her to outlive my father (that guy just CANNOT stop working) so putting it to her is a safe bet. EDIT: My company matched a quarter on the dollar up to 6% and my last years contributions were 12% of my bi-weekly pre-tax. Was about as much as I could handle and still have money for lunch and good beer. |
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Posted: 12/19/2005 3:56:56 AM EDT
[#16]
87 is a inside joke at ARFCOM - standard answer for anything. |
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Posted: 12/19/2005 4:31:39 AM EDT
[#17]
I do 9%, get my 4% match. (taxable earnings)
Also max out Roth IRA for both my wife and I. Max is now $4000 each per year. (tax free earnings) $200 a month into a "cash" account. I feel like it is still not enough. |
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Posted: 12/19/2005 7:24:55 AM EDT
[#18]
+1 That is what I did before we got phased out of Roth (a nice problem to have). Now we just max out my 401(k). |
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