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![locked post](https://www.tigerdroppings.com/images/layout/lock.gif)
Suggested % to contribute to youy 401K?
Posted on 1/2/13 at 5:47 pm
Posted on 1/2/13 at 5:47 pm
What is the "typical" percent you should try to contribute?
Posted on 1/2/13 at 5:50 pm to CajunCaimen
10% is good number, but your goals in life should be the ultimate driver.
Posted on 1/2/13 at 6:31 pm to CajunCaimen
I didn't contribute my first 3 years out of LSU around 2004-2007 since my company didn't match. Bad choice on my part but oh well.
2007-2010 I contributed 6-8%
2010-Present. 8% for a few months, then 10% for some months then 15% for about the past 6.
I'm married with zero kids. I say put in as much as you feel you can.
Edit to add, after the 1st gig 2nd company matched 2% and the current is 3%.
2007-2010 I contributed 6-8%
2010-Present. 8% for a few months, then 10% for some months then 15% for about the past 6.
I'm married with zero kids. I say put in as much as you feel you can.
Edit to add, after the 1st gig 2nd company matched 2% and the current is 3%.
This post was edited on 1/2/13 at 7:35 pm
Posted on 1/2/13 at 6:38 pm to CajunCaimen
Right now I do 6 % and my company does an additional 4. I have been saving to build a years worth of savings and save money for my wedding. After that I plan to contribute 10%
Posted on 1/2/13 at 6:52 pm to CajunCaimen
6% in 401k, company matches that amount.
Another 5% in Roth. And another $500 in savings each month, unfortunately with me getting some property ready to build a house I am going into the savings constantly. Put $20 a month for each kid in 529 college fund also.
Another 5% in Roth. And another $500 in savings each month, unfortunately with me getting some property ready to build a house I am going into the savings constantly. Put $20 a month for each kid in 529 college fund also.
Posted on 1/2/13 at 6:59 pm to CajunCaimen
Screw "typical".
The correct answer is as much as you possibly can. And then a little extra.
The correct answer is as much as you possibly can. And then a little extra.
Posted on 1/2/13 at 7:05 pm to CajunCaimen
Yearly max which I think is $17k?
Posted on 1/2/13 at 7:43 pm to CajunCaimen
If you can swing it put in 10% and increase it by 1% everytime you get a raise. Target would be 20 to 25%.
Posted on 1/2/13 at 8:38 pm to CajunCaimen
I'm currently allocating 6% of my salary to get receive the company match of 3%. I have not figured out any goals I have in life, but as I have learned from the board, it doesn't hurt to at least contribute to the company match for the time being while deciding long term goals.
Posted on 1/2/13 at 8:38 pm to CajunCaimen
My company matches $ for $ up to 9%, so that's what I contribute.
Posted on 1/2/13 at 9:31 pm to CajunCaimen
At this point and here forward, I only contribute what it takes to get the company match. Additional savings go elsewhere.
There is no way I won't take advantage of the free money (company match), but the outside chance of government takeover of 401k's or other penalties for people who have saved and "can afford to spread it around" keeps me wary of contributing more.
There is no way I won't take advantage of the free money (company match), but the outside chance of government takeover of 401k's or other penalties for people who have saved and "can afford to spread it around" keeps me wary of contributing more.
Posted on 1/3/13 at 8:06 am to CajunCaimen
Do you have adequate insurance on your assets?
Do you have 6-12 months of your gross annual income saved in a liquid accout?
What is your consumer-debt load?
Age?
Company match amount?
*Remember that any of your money that you deposit into a qualified retirement plan law account will be taxed at ordinary income tax levels to be determined at that point in time.
Do you have 6-12 months of your gross annual income saved in a liquid accout?
What is your consumer-debt load?
Age?
Company match amount?
*Remember that any of your money that you deposit into a qualified retirement plan law account will be taxed at ordinary income tax levels to be determined at that point in time.
Posted on 1/3/13 at 8:36 am to CajunCaimen
quote:
What is the "typical" percent you should try to contribute?
As others have said you surely want to take advantage of the company match.
Beyond that, other than the as much as possible line of thinking, I believe I read you take your salary now and multiply it by 20 and that should give you enough money for retirement.
Posted on 1/3/13 at 9:27 am to CajunCaimen
I'm upping mine from 10% to 15% in a week or two. Hopefully I'll have to make a big adjustment come raise time. I'm probably just being overly optimistic about recently getting my MBA.
Posted on 1/3/13 at 9:51 am to CajunCaimen
I would do up to the match limit. Do a Roth as well as you can so you can diversify taxable and non-taxable retirement income.
Posted on 1/3/13 at 3:29 pm to CajunCaimen
I'm at 15% with a 5% company match and 4% lump sum each year. As soon as the wife's student loans are paid off, I'll be maxing it out.
I really need to get back into the habbit of contributing to a Roth IRA.
I really need to get back into the habbit of contributing to a Roth IRA.
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