Poll: Retirement Accounts - Contribution Amounts?

If you work and have a job where retirement benefits are offered - how much do you contribute and do you actually max out your 401(K)s?

I just calculated how much $ I'd have to get deducted from my paycheck to meet the $18K max amount for 2017 and I am wondering if people gradually put in the same % age every month or just adjust it throughout the year.

Re: Poll: Retirement Accounts - Contribution Amounts?

I do the max. I get a 5% match from my job and the rest I contribute so that I max out each year.

Re: Poll: Retirement Accounts - Contribution Amounts?

I max out what my company matches, and I go a little over, but I don't max out the contributions as far as possible. I had to find a comfortable balance between retirement fund, and daily funds.

ETA: I just double-checked what I contributed last year, and I'm just about maxed out, so for all intents and purposes, I do max my contributions.

Message edited 2/16/2017 11:10:59 AM.

Poll: Retirement Accounts - Contribution Amounts?

With company match and our contributions we max out.

Poll: Retirement Accounts - Contribution Amounts?

We max out my husbands but not mine

Poll: Retirement Accounts - Contribution Amounts?

We recalculate twice a year and change the percentage accordingly so that we come in just above the max.

Re: Poll: Retirement Accounts - Contribution Amounts?

We max out both of our 403B and 401K accounts and our Roths.

ETA: About a third of my paycheck goes to my 403B.

Message edited 2/16/2017 11:34:11 AM.

Poll: Retirement Accounts - Contribution Amounts?

We max out mine, my wife's we don't max, but do a good bit. Her salary is lower and maxing out would take a lot away.

How I got to this I think worked out pretty well. I was taking about 15% out of my paycheck when I first started working. Then I increased it every year % wise at the time I got a raise. Doing that, I didn't "feel" the extra % being taken out. I did decrease the percentage when I bought my first house as times were extremely tight, but then as I got raises I did it again until I got to the max.

I have a decent sized retirement account I feel. However, to some extent, this is at the expense of my savings account which is meager.

I basically take the 18K and divide it as a % of my salary and make that my contribution %. I don't update it. most of the time I've skewed it a bit so I get to 18K in November and get a larger paycheck in December, which helps around the holidays.

Poll: Retirement Accounts - Contribution Amounts?

I used to do15% but since we bought the house, we are at 5%. I'd like to increase it with some salary increases.

Re: Poll: Retirement Accounts - Contribution Amounts?

Message edited 2/16/2017 11:14:22 AM.

Re: Poll: Retirement Accounts - Contribution Amounts?

Poll: Retirement Accounts - Contribution Amounts?

i chose "i don't have a 401k" because I am part of a TDA program (403b) through my job. I get 7% fixed interest on any contributions, and usually contribute 8% of each paycheck.

Additionally, I pay retirement dues through my NYS retirement plan. I am tier 4, so I contribute for 10 years I think, and then I no longer need to contribute any money

Re: Poll: Retirement Accounts - Contribution Amounts?

Posted by EclecticEsq10810

Posted by CSK

We max out mine, my wife's we don't max, but do a good bit. Her salary is lower and maxing out would take a lot away.

How I got to this I think worked out pretty well. I was taking about 15% out of my paycheck when I first started working. Then I increased it every year % wise at the time I got a raise. Doing that, I didn't "feel" the extra % being taken out. I did decrease the percentage when I bought my first house as times were extremely tight, but then as I got raises I did it again until I got to the max.

I have a decent sized retirement account I feel. However, to some extent, this is at the expense of my savings account which is meager.

I basically take the 18K and divide it as a % of my salary and make that my contribution %. I don't update it. most of the time I've skewed it a bit so I get to 18K in November and get a larger paycheck in December, which helps around the holidays.

This is smart, I wish I had done this last year - I was bad last year and did the bare minimum since we had bought the house and wanted to have the cash in my savings for any unforeseen expenses. The issue I am having now is trying to nail down the right %age for contributing this year - as my raise doesn't go into effect until April 1st, and the difference beween my old %age contribution and what I would need to reach the $18K cap is several hundred dollars off..So I don't know whether to just stay at around the same %age for the rest of the year or just bite the bullet and have a higher %age (~20-35%) taken out for March/April/May and drop it back down to 10-15% or so in the summer.

Re: Poll: Retirement Accounts - Contribution Amounts?

No, I only contribute up to company match. Would love to max out but not possible since we need that money for bills.

Re: Poll: Retirement Accounts - Contribution Amounts?

Definetly don't max out. Combined with my employee match I contribute 9% total right now.

With the kids in fulltime daycare its all we can do.

Even worse we havent started DH 401K yet but he has some type of other fund that his job contributes for him so he has something.

Poll: Retirement Accounts - Contribution Amounts?

I put 5% of my salary plus I have an employer contribution 2x a year

My husband contributes 5% and then every year his company does an automatic increase by 1% at his review plus they do an employer contribution. Not sure what % he's at now

Message edited 2/16/2017 2:31:14 PM.

Re: Poll: Retirement Accounts - Contribution Amounts?

I wish my company contributed.

Poll: Retirement Accounts - Contribution Amounts?

When I was working I contributed 10% of my salary and company match was 3% I believe. My husband contribute 10% of his salary to his 401k as well. His company match is 5% I think.

Re: Poll: Retirement Accounts - Contribution Amounts?

I don't max, but my contribution is pretty close. I'm lucky that my company matches 5%.
I up the contribution percentage by 1% every year when my raise takes effect.

DH has a small 401k, but has a pension that we are already collecting.

eta : DH is retired.

Message edited 2/16/2017 12:33:12 PM.

Poll: Retirement Accounts - Contribution Amounts?

DH and I both do 12% and increase 1% every January 1st. No company match though

Re: Poll: Retirement Accounts - Contribution Amounts?

Apparently, I max out. My employer has a generous 7% contribution, which I match. Once you hit the match, they also up it a percentage point, so they contribute 8%. So I am at a total of 15%. I probably should contribute less to have more $$ for our living expenses, but I feel like that's throwing away $$ and I can't make myself do it.

Your post made me just realize why I had extra money in my Dec paychecks bc I had already reached the max contribution amount for the year I'm on autopilot with this so I didn't really give it much thought.

Poll: Retirement Accounts - Contribution Amounts?

FYI, Employer contributions DO NOT COUNT towards your maximum.

You can put in up to 18K and the employee match is on top.

Re: Poll: Retirement Accounts - Contribution Amounts?

We both do the max.

Poll: Retirement Accounts - Contribution Amounts?

I contribute 11% this year and every year I increase it 1 percentage point until I hit the max. I figure I won't feel it if I do it that way. My company has a generous annual contribution, but I have to wait another year until I am eligible since I've only been here a year. They also have another smaller match that is done quarterly (I think) that I do qualify for this year.

Re: Poll: Retirement Accounts - Contribution Amounts?