re: Yes, another retirement thread - RE: How much you need to retire

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I can only max out at 15%, but I will get there before 30

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If you increase the contribution by 1% every time you get a raise that will be 5 raises based on going from 10% contribution to a 15% contribution. Let’s assume each raise is 5%. That means your $85,000 salary has grown to $108,000. You are now contributing 15% of $108,000 or $16,200 and your company is contributing 5% of $108,000 or $5,400 for a total contribution of $21,600 for that last year. That’s vs. $12,750 that is being contributed this year. Of course, you can rework the numbers using a percentage raise different than 5%.

If you do max out, then start a Roth IRA. If you also max that out spend the rest on wine, women, and song.