- Oct 28, 1999
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Most "investment experts" say that you need to be saving back at least 15% of your monthly income for long term retirement. My question is, do employer contributions count in this 15%?
Example: Say I have a 401k deduction taken out each month for 10% of my gross earnings, and my employer matches me 5%, am I saving back 15%?
I ask this because I have a 4% match on my 10%, and my fiance has a 10% match on her 5%, are we effectively saving back 29%, or only 15%?
Example: Say I have a 401k deduction taken out each month for 10% of my gross earnings, and my employer matches me 5%, am I saving back 15%?
I ask this because I have a 4% match on my 10%, and my fiance has a 10% match on her 5%, are we effectively saving back 29%, or only 15%?