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  1. #1
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    401K contributions?

    I am curious as to what others put into their 401k and/or a Roth IRA on a monthly basis?

    Personally, my wife and I (both 30 years old) each put 6% of our salary into our respective 401k's to get the company match and we also each put in $150 per month in to two seperate Roth IRA's.



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    Re: 401K contributions?

    I always do that match. When I get a raise I up it a percent.



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    Re: 401K contributions?

    12% total...company gives $.50/dollar contribution on the 1st 6%.

    I max out my pre-tax contribution allowed.



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    Re: 401K contributions?

    I have a couple IRA's as well, but you always want to take advantage of the free money your employer is willing to give you. I will never understand that folks who dont at least take the match amount.



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    Re: 401K contributions?

    My wife and I are both 34. I put 11% into my 401K and she puts 10% into hers. We both putting $4000 per year (666.6/per month total) into seperate Roth IRAs.

    Additionally my company is one of the few that still give out a fairly generous pension. The pension is no longer an option for new employees here, they are required to take matching 401K.


    Last edited by Cutlass; 03-13-2008 at 02:22 PM. Reason: add pension details

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    Re: 401K contributions?

    Quote Originally Posted by Cy Heavy View Post
    I am curious as to what others put into their 401k and/or a Roth IRA on a monthly basis?

    Personally, my wife and I (both 30 years old) each put 6% of our salary into our respective 401k's to get the company match and we also each put in $150 per month in to two seperate Roth IRA's.
    Wife puts 8%. I put 10% plus 2% in a new Roth 401K. Even after all of this my 401K is at the same level as June 07. I'm in it for the long haul though. I also do a decent amount in company stock but that's just for fun things (see new car every 2 years thread)

    I've done at least 8% in my 401K since 1993 (year I graduated).



  7. #7
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    Re: 401K contributions?

    I get 4% dollar to dollar match from employer. I put in 12% and then add the 4% that the boss matches. 16% works pretty good. Advice to anyone graduating and starting out in the working world. START EARLY. The younger you start, the more rewards you reap!



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    Re: 401K contributions?

    Quote Originally Posted by redrocker View Post
    I get 4% dollar to dollar match from employer. I put in 12% and then add the 4% that the boss matches. 16% works pretty good. Advice to anyone graduating and starting out in the working world. START EARLY. The younger you start, the more rewards you reap!
    before I was 30, i had 30K in my 401k ... that felt good.. but I put a LOT into it.

    Early is the key.

    -keep.


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  9. #9
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    Re: 401K contributions?

    I work with a gal who recently cashed out her 401k to buy a BMW. She's in her low 30's, probably around a $35K per year job. Puts no money in now.

    Very, very good call (said in the same tone I'd use if I were complimenting a hawkeye).



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    Re: 401K contributions?

    My financial adviser would say always take a 401K because you're getting free money matched to your money. Roth IRA's are great as well as long as you have them invested in good places.


    @RandomGeoFacts

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    Re: 401K contributions?

    Quote Originally Posted by dosry5 View Post
    I work with a gal who recently cashed out her 401k to buy a BMW. She's in her low 30's, probably around a $35K per year job. Puts no money in now.

    Very, very good call (said in the same tone I'd use if I were complimenting a hawkeye).

    And yet she will probably somehow retire a millionaire and my 401k will be worth a dollar. =(



  12. #12
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    Re: 401K contributions?

    Quote Originally Posted by dosry5 View Post
    I work with a gal who recently cashed out her 401k to buy a BMW. She's in her low 30's, probably around a $35K per year job. Puts no money in now.

    Very, very good call (said in the same tone I'd use if I were complimenting a hawkeye).
    I've heard a lot of calls and saw a lot of emails about people wanting to cash out/borrow against their 401K. Over time you realize that a lot of people are really stupid.



  13. #13
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    Re: 401K contributions?

    I average putting in about 10% ... I put a lot more in (18%) before this whole "married homeowner" phase hit.



  14. #14
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    Re: 401K contributions?

    Quote Originally Posted by keepngoal View Post
    before I was 30, i had 30K in my 401k ... that felt good.. but I put a LOT into it.

    Early is the key.

    -keep.
    I am not one to talk $$$$ figures on an internet forum, but when speaking with my financial advisor and seeing the dollar forcast for when I retire, it is pretty suprising how it can grow. I tell all the guys on our crews to put in early, even if it is alittle bit. There are not alot of companies that will match 4% in your 401K. I have been pretty lucky.

    Except this last quarter, my 401K has took a huge hit (I am sure I am not the only one that has seen RED this quarter)



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    Re: 401K contributions?

    Quote Originally Posted by clones_jer View Post
    I average putting in about 10% ... I put a lot more in (18%) before this whole "married homeowner" phase hit.
    Wait til you hit the "married homeowner parent phase"



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