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re: How much money should you have in the bank by age 30.
Posted on 9/21/17 at 4:47 pm to Displaced
Posted on 9/21/17 at 4:47 pm to Displaced
quote:
Automatic 6% + 100% match up to 6% So 12%
That's legit, you're right.
Slightly off topic, but when a plan has an automatic contribution, I wonder how much of that is essentially taken out of what they would otherwise pay you? Depending on what you did with it, getting 6% extra pay could be better than getting a 6% automatic contribution.
2
Posted on 9/21/17 at 4:55 pm to slackster
It used to be 75% up to 4.5% plus a pension, but they killed the pension and just upped theb401k contribution.
Posted on 9/21/17 at 8:14 pm to slackster
quote:
That's legit, you're right.
Slightly off topic, but when a plan has an automatic contribution, I wonder how much of that is essentially taken out of what they would otherwise pay you? Depending on what you did with it, getting 6% extra pay could be better than getting a 6% automatic contribution.
30% taxes out of that extra 6% baw
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