Just wondering because i started a new job semi recently and they have a 401k, im putting 15% into it right now, im in my mid 20s also and make decent cash, what are you guys putting into your 401ks? Also, the company matches what i put in until like 5% i think, somthing like that…
I’d just put in what the company matches. Use the other 10% and invest in something that you can cash in on before you retire, like stocks or bonds. You are young and starting very early so 5% seems sufficient for now.
I’m doing about $300/check and my company matches 4.5%.
I’m also 24.
15% isn’t bad… you should do what I’m not doing, and invest anything else you can independent of your 401k.
Your putting away 300 per check?! Do you get paid bi weekly? Geez how much do you make at age 24 lol?!?
15% Been doing that for a while and now Im used to it being gone. It’s pretty sweet to look at how much I have built up already and I have yet to hit 30 :tspry:
I agree, at first I was like shiiiiit, and now I am just used to it being gone, and seeing the build up is very nice!
i put into my 401k the same percentage that my company matches and then i do private investing too with “extra” money.
I hope everyone is at least commiting whatever the company is matching… otherwise you’re throwing away free money.
Esp with taxes, its more money.
If you make 100 dollars in wages and then take it as income, you are only seeing about 70 of it with taxes. If you take it and invest it, you are putting the full 100 bucks into an account that builds int rest and also getting a free 100 on top of it by the company match. Its stupid to not put it in. Yes, you eventually pay taxes but when you take it out but when you let it sit there, its more money making money on top of it.
keep in mind that you may be in a different tax bracket by the time you take distributions.
:word: I put in 4% and my company matches it with an additional 6. 3-for-1 on the first 1% i put in 
invest as much as you can afford to invest… look at other options currently though as the market is still kinda crappy, esp in 401K funds (all of the ones I have to choose from at my company have been losers over the last 9 mos)
My company blows and doesn’t match shit. I dump the max into my Roth and the remainder goes into private investment. If I worked at a company that had any matching, I’d be putting it there, up to the %
I agree. Ive always wanted my money to work for me. No point to let it sit into a no interest checking account. If you put it in a fun
At least put in the amount you get matched and if you have spare money you are worried about not having access to, at least put it in a online savings account of some sort and make your 4% interest each year.
I believe 13% or so (maybe it was 15%? need to find my paperwork). No company matching though 
:tdown:
for the few years of investing, it’s not a bad chunk of change… but could be better
I’m far from a financial consultant, but you might want to at least look into a Roth IRA if you aren’t getting any matching from your employer.
I’m a noob when it comes to this shit, but what is the advantage to a roth IRA versus what I have? more interest? Or some sort of matching?
it’s a simple one stop formula that applies to everybody.
- put whatever your company will match in your 401k
- put whatever you can afford into an IRA until you max out
- go back to the 401k with anything beyond this.
the reason is that you have a lot more control over your IRA than your 401k (which is usually just a selection of shitty funds).
my place does not match and i put away 3% right now… have been doing that for 2 years now and im only 23 right now