401k, how much do you put in % wise?

[Elbryn]

all accounts included about 27%, employer matches 13.5%. then again i work for the state so no 10.4% combined social security tax. so in reality, i'm not sure if i think the end 2.1% bonus funds is really a win or not compared to 4-6% elsewhere on top of social security.

 

[Blieb]

I do 18%.
Company matches dollar for dollar up to 6%
They have an optional 5% profit share on top.
So total company match up to 11% + my 18% = 29% max.

My parents didn't do so hot at saving for retirement and I'm hoping not to screw things up for myself.

 

[Wyndru]

I used to do 15%, but my new job has a decent pension, so I don't put any more into my roth.

 

[darkxshade]

all of it

 

[boomhower]

I put is ~6%(which I deposit as Roth 401k) and my company puts in ~5.5%(goes in as regular 401k). It's not a match, they put it in regardless if the employee contributes or not. Assuming my pension doesn't dissapear I should be pretty set between the two. I like having half being Roth and half standard, kinda balances out the tax risks.

 

[edro]

0%, trying to enjoy life to the fullest, by the time I retire there won't be dollars anymore 🙂

YOLO!!!!

 

[Dice144]

Did not mean this to be a brag thread. I make less then 35k a year. But was curious what the other "average" joes put in. I had to educate my Dad on the importance of using his 401k.

Just hit 30 and did not have a job that had a 401k until I was 28. So playing catch up!

 

[Exterous]

Wow - more people than I expected have really good to great employee contributions

7% + 4% company match
2% to Roth IRA

 

[vi edit]

Wow - more people than I expected have really good to great employee contributions

If you work for a public (state/municipal/ect) employer the matches are usually much higher than private companies since the salaries are typically lower. My wife used to work for a state hospital in Iowa and had a 403b plan that the employee put in 5% and the state put in 10%. But they made about 25% less than other private employers for similar jobs too.

 

[maddogchen]

18% + 9% company = 27%.

 

[Evadman]

20% currently.

 

[Jeff7]

That's very easy to calculate: 50% > 1.9%. Your rate would have to be very good to catch up with 50% more invested up front.

EDIT: I see dullard was much more through doing the work.

I had a feeling it would be something that would border on stupidly simple too. :\
Oh well...the stupid question that is never asked is still stupid. And you may feel stupid for having asked it, and look stupid in the process. But at least you're not so stupid anymore, right?
I'm sure the saying goes something like that. :hmm:

Kind of like that thing of "Two choices: Give you $15M right now, or I'll give you $1 that will double every day for a month. Which do you want?"
If you don't have your 2s exponentials memorized🙂, then that might take a bit before saying "Dear god give me the doubling $1," or for the person who doesn't consider the options at all, "$15M is bigger than $1. I'll take the millions now."

 

[SSSnail]

I had a feeling it would be something that would border on stupidly simple too. :\
Oh well...the stupid question that is never asked is still stupid. And you may feel stupid for having asked it, and look stupid in the process. But at least you're not so stupid anymore, right?
I'm sure the saying goes something like that. :hmm:

Kind of like that thing of "Two choices: Give you $15M right now, or I'll give you $1 that will double every day for a month. Which do you want?"
If you don't have your 2s exponentials memorized🙂, then that might take a bit before saying "Dear god give me the doubling $1," or for the person who doesn't consider the options at all, "$15M is bigger than $1. I'll take the millions now."

Seems like you don't either 😛, how about $300 mils now? 😉

 

[Jeff7]

Seems like you don't either 😛, how about $300 mils now? 😉

Well...I do know them up to 2^8 easily. 2^10, 2^16, and approximate values for 2^24 and 2^32.
And I can totally use a calculator or Excel for the rest. Or pencil and paper.

 

[LegendKiller]

At my prior employer, almost 2x fed max between my contrib and match/profit share. New place, it'll be about the same, maybe 1.75x fed max.

 

[Aikouka]

8%

My company matches up to 6% at a 100% rate, and will always put in 6% at the end of the year.

 

[Doppel]

I do 9% company matches to 6%. At my age and current balance I'm slightly behind where all the calculators (that nobody follows) say I should be, but also well ahead of most people.

I'm fine with this. Honestly, I could get hit by a car tomorrow or die of cancer at 50. I do put enough away that, should I live to an old age, I am not entering retirement like some chump with a $40k balance (like the average American), but I am not going to really bust my ass putting in 20, 25, 30%. I enjoy life now and would pity the person who works only toward retirement.

 

[Tweak155]

Lol. I have not started one yet due to a variety of factors (I'm 28) and just recently got a new position. I just looked up their match and it is 25% up to 2%. Made me crack up a little. But hey, still free money I suppose. Maybe I'll look into it.

How does it work carrying over a started 401k? If I lose my job, it just sits with the current money already added, until my next job which I can apply their plan to it?

 

[dullard]

How does it work carrying over a started 401k? If I lose my job, it just sits with the current money already added, until my next job which I can apply their plan to it?

You could probably let it sit in your old 401k for years. But why have the hassle of multiple 401k accounts? What you should do instead is roll it over to a new retirement account. I suggest rolling it into an IRA since then you can invest in anything you want without being limited to your new employer's choices.

 

[Tweak155]

You could probably let it sit in your old 401k for years. But why have the hassle of multiple 401k accounts? What you should do instead is roll it over to a new retirement account. I suggest rolling it into an IRA since then you can invest in anything you want without being limited to your new employer's choices.

What about the match?

 

[dullard]

What about the match?

Now we have to get into "vested" definitions. If you are 100% vested, then the company's match is 100% yours. For example, if you put in $10000 and they matched $2500 at 100% vested, then that is your $12500 to do with as you please (within federal laws of course).

But, some companies have a vesting schedule. Meaning that if you leave early (fired or quit) then you only keep some of the match. All companies do this differently. For example, a company might have a 50% vesting period for say 3 years. If you leave during that 3 year period, then the company keeps 50% of that match. In this case, you'd keep your $10000 (it was yours to begin with), you'd keep half of the $2500 match and the company would keep the other half of the $2500 match. In total you'd leave with $11250. After the 3 year period, you would be 100% vested and you'd keep it all.

But that was just an example, the vesting amount and time duration vary a lot from company to company.

 

[Tweak155]

Now we have to get into "vested" definitions. If you are 100% vested, then the company's match is 100% yours. For example, if you put in $10000 and they matched $2500 at 100% vested, then that is your $12500 to do with as you please (within federal laws of course).

But, some companies have a vesting schedule. Meaning that if you leave early (fired or quit) then you only keep some of the match. All companies do this differently. For example, a company might have a 50% vesting period for say 3 years. If you leave during that 3 year period, then the company keeps 50% of that match. In this case, you'd keep your $10000 (it was yours to begin with), you'd keep half of the $2500 match and the company would keep the other half of the $2500 match. In total you'd leave with $11250. After the 3 year period, you would be 100% vested and you'd keep it all.

But that was just an example, the vesting amount and time duration vary a lot from company to company.

Thanks for that explanation, but I was referring to the new companies match. You said why limit myself to their 401k options... for the match, yes?

 

[Lithium381]

5% . . . . my company matches 100% up to 4%

 

[WhoBeDaPlaya]

5% (the max company match)
I'm responsible enough to save up my own money, thanks 😛

 

[dullard]

Thanks for that explanation, but I was referring to the new companies match. You said why limit myself to their 401k options... for the match, yes?

Oh, I see what you meant.

I'd personally roll all old 401k accounts into one IRA account for myself. Then use the new company's 401k to get their match. If that is too much to handle, then just roll it all into the new company's 401k if you can.