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/biz/ - Business & Finance

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51023916 No.51023916 [Reply] [Original]

Do you contribute at least 15% of your pay to a 401k each month /biz/?

>> No.51023945
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51023945

>>51023916

>> No.51024030

>>51023916
Yes, but it's a Roth 401k
15% of my paycheck and my employer matches 4% on top of that.
I put another 10k per year in my etrade roth ira, and a few hundred per week in crypto.

t. $80k/yr wagie on track to retire in 2030

>> No.51024057

does it beat inflation? if not i might as well stuff 15% under a mattress

>> No.51024065

>>51023916
no, just 8 percent since my match is 4 percent. rest goes into taxable accounts for now. I take those earnings and am putting it into my roth IRA. seems good for now

>> No.51024068

>>51023916
i put 12% of gross and my employer contributes another 5%.

>> No.51024158

>>51024057
gee if only there was data you could check to figure this out and years of conventional wisdom. good thing I'm on /biz/ where everyone is now an expert on inflation and monetary policy

>> No.51024199
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51024199

>>51023916
why would i put money into an account that doesn't keep up with the true rate of inflation and that the government can just seize at will?

>> No.51024222

>>51024030
they match into a ROTH?

>> No.51024250

>>51024199
Because.....because... You just GOTTA, OK?!?!

>> No.51024352

>>51024222
yes- the company uses John Hancock, which allows you to choose between pre or post tax contributions.
Most people don't really dig into their 401ks and they just pick the 2050 retirement fund or whatever without taking more than 5 min to consider their retirement.

I do Roth 401k, then I divide my contributions into 30% S&P500 fund 30%, Large cap fund, 30% small cap, and 10% bonds

My Roth IRA is all blue chip dividend stock
Crypto has become my biggest investment just because it's gone batshit insane in the 7 years I've been buying it, but I still try to behave as if I'll only have my 401k and Roth IRA to retire on.
That way if I actually make it from crypto, it'll be like a pleasant surprise without having to live on the edge of my seat hoping some shitcoin goes 1000x before I have a prayer at retiring semi early.

>> No.51024369

wtf is a 401k, sounds like a scam

>> No.51024378

>>51023916
no
kys kike

>> No.51024608
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51024608

I thought we were supposed to cash those out when we quit jobs

>> No.51024622

>>51024608
no you're supposed to roll them over so you don't pay a 10% penalty in addition to the taxes. kek.

>> No.51024656

I only put in what my company matches so I don't leave money on the table. No more than that though because I'm not a boomer

>> No.51024723

>>51024622
yeah i think it's better to just take out a loan against it or something rather than cash it out unless you're desperate. I just treat mine like savings anymore since I figure if I burn through all my investments and cash and I still need money then I'm probably in a situation where I'm not gnna make it to retirement

>> No.51024748

>>51023916
What's that?

>> No.51025205

>>51024030
ROTH IRA limit is 6500 year.

>> No.51026148

>>51024352
my company has john hancock, i dont believe they will match into ROTH but only 401k... and the fund choices are extremely limited