Retirement savings, 401K/403B percentage

What percentage of your salary do you put in your retirement savings acct, 401k/403B?

  • 0%

    Votes: 4 11.4%

  • 0-3%

    Votes: 1 2.9%

  • 3-6%

    Votes: 7 20.0%

  • 6-9%

    Votes: 6 17.1%

  • 9-12%

    Votes: 9 25.7%

  • 12-15%

    Votes: 1 2.9%

  • 15+%

    Votes: 0 0.0%

  • The minimum to get the company's max match

    Votes: 3 8.6%

  • The federally allowed max per year ($16,500)

    Votes: 4 11.4%
  • Total voters
    35
drkelly

drkelly

Dipstick who put two vehicles on jack stands
Joined
Mar 21, 2005
Location
Oak Ridge/Stokesdale, NC
I was talking with a co-worker the other day and found out he is contributing 0% to his 401k. I was surprised considering our company matches our contribution up to x%, so by not at least putting that amount in, he is missing out on free money. My wife told me that she had also talked to a couple of people at her work who put 0% in their 403B and are also missing out on the company's match. I thought a poll would be interesting.
 
I need to start doing a better job of this. Currently we aren't getting any type of match. So I'm not losing out on money but, I'm not putting any away either. Very hard to save!
 
We get 6% match. I started contributing 8%, but as I got raises I upped my contribution, which is currently 9%.
 
I used to put in a lot more than i do now. But the company I work for cut back on the amount they match, and i am having to pay more bills now than i used to. so now i am only putting in 2%.
 
I started putting back 10% when I started working. The company matched 50% on the dollar with a 3% max. When I bought my house in 2008, I reduced my contribution to 6% to help out with my new home bills with the intention of upping the amount after my end of year review/expected raise.

As soon as I get another job, I plan to start up again. It doesn't make any sense not to at least contribute what the company is willing to match. I've always thought it was easier to contribute from the start. I never missed the money that was being taken out because I never had it in hand.
 
Wife is on the state plan. Highest 4 years of salary after working 25 years. Avg salary x .0182 x years of service. Example 85k x .0182 x 25= $38675/ year until death or $34675 and can leave to beneficiary.

I was hitting 10% on mine plus company match of 5%. Had to rollover to IRA (Vanguard & Janus) when I was laid off.
 
I'll probably be putting in about 5~8% into my 401k (I start next week :bounce2:).

On top of that, I'm stuffing my Roth IRA pretty hard and will try to buy some stocks in the near future.

I was reading in a financial magazine that if you want to retire and then be bums until you die, then save 15% or more of your overall income. If you don't mind working part time, then 10%. Anything under that and you are gonna keep on working.

Seems like pretty good advice.
 
i put in 5, Feds match w/ another 5.
Fed plan is similar, they give top salary of 3 years. IIRc the rule is "Age + time served = 85" for full benefits.
So if you start young (not me) you can retire full benefits pretty early, or if yer smart just keep going and get a lot more.
If you do the math, clearly the most important thing is TIME
 
I can't afford my bills, let alone save anything.
 
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