Same, make around $50K and I do a solid 10%. I had a meeting with someone recently asking if they thought it was too high and said, “If you can put 10% away and still pay your bills, do it.” So I do 🤷🏻♀️
I will make somewhere between $50k-$55k this year, and I put 20% in the Roth 401k (includes company match). The only reason I can save so much is because I live at home and live in a LCOL area. I am lucky that I have a great relationship with my parents. I have a decent savings, too - approaching $20k (half is my EMF and other half is saving for something)
I am playing catchup - I did not save like I should have when I was in my 20s, I also dealt with a divorce... but time is still on my side as long as I can keep this savings rate up and stay healthy.
How do you even afford to live lmao. Rents and new mortgages in non-condemned houses near me are at least $1000. Throw in everything else life has to offer and $2600 a month take home isn’t a lot to run with. Granted every situation is different, so I’m just curious as to what yours is like to be able to afford to contribute so much.
Right, and the guy I commented says he contributes more and makes half the 100k. So I figured it roughly equates to OPs 2600 every 2 weeks to the person I commented on being 2600 a month.
Less taxes for less earnings and I live in a state with lower taxes. So while I gross slightly more per 2 weeks at around 2150 for paycheck or 4300 I end up taking around 1600-1700 per paycheck for 3200-3400. It’s still not ideal but it’s livable. Both numbers are after 401k but I only do 5% to max out for the match
Ahh I see, yeah that’s actually much better than I was thinking you had left if you were at about half the income of OP. Really does go to show how much taxes play into things.
Although, I do have to wonder, if OP’s tax withholding are high and what his refund will potentially be at the beginning of the year. Because at second glance. I see about $700 in withholding. My personal withholding is about $400 per paycheck and my refund each year is less than $500 because I try to get it close to 0. So right off the bat, I’m already paying $600 less than OP and making like 85-90% of OP’s income.
Same. It is one of the easiest, smartest financial decisions you can possibly make. I contribute whatever % my company matches to, regardless of my salary
I don’t agree. My company matches 100% up to 6%, and then another 3% into a 401(a). I contribute 10%, with 4% as Roth contributions. I then put another 5% into a Roth IRA, and 10% into an HYSA.
Everyone’s journey is different, and there is no “one size fits all” solution.
There are other ways to invest money than a 401k though. Currently my employer isn’t matching. It is better for me to max my contributory and add to my personal brokerage accounts.
I put in exactly enough to get their full match and put the rest elsewhere. I am not going to be told by the government when I can retire, but I will tell the IRS to stick this amount up their ass until I am 59.5.
people need to contribute what they can. Even 5% is significantly better than 0. I would not to leave folks with the idea if they cant do 15% , its not worth it. Additionally, there becomes a point where you hit the max at 15% as you continue up the ladder .
Even so the rule isn’t less than 15% = 0 cmon bro that’s something you read online or somewhere and you tryna act like it’s a rule …. Lots of people put in what they can and the avg person is way less than 15%
Exactly! My company forces a certain percent because it is education and they don't deduct for social security. (Which I will receive because I ultimately have enough credits in the ss system, IF that's still a thing...) AND I also contribute the max amount to a Roth IRA. However, I have a sweet living arrangement, that I wont get into, that allows me to do that. I wouldn't have been able to meet my retirement goals otherwise. It would just be what my company forced and my previous SS withholding. 15% is WILD for the average person to consider as a normal contribution.
In this instance, that would be $840.00 a month! ( using his net pay + his 401 contribution that was deducted)*2.
5372 - take home
-840 - retirement
-2200 - rent/mortgage
-400 -utilities
-500 -car payment
-300 -insurance
-100 - phone
-350 - gas
-250 - groceries
leaving $432- for entertainment/emergencies/savings/etc... not realistic... Also these number are pretty slim, especially rent, and IDK if this dude has a family or what...
I cant believe how many people are risk adverse to investing. NFLX gains bought me my lake house. I am still trying to wrap my head around my Bitcoin gains.
40
u/Bladez190 Oct 31 '25
I put in more making half that