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save for retirement (read all 3 entries…)
401k 2 years ago

Well I finally got around to getting my 401k set up at work. Only 4% of my pay goes into it each week. So it’s not much but it’s a start.I plan on increasing my contribution after I get my next raise.



Comments:

It's a good start!

4% is a good start! Good for you.
Does your company offer a matching contribution? If so, make sure you’re saving enough to get the maximum. Many companies will match some or all of the first 6% you save, so you might want to increase another 2% sooner.

A good rule I’ve read is to increase how much you save by 2% each year, usually when you get an annual raise (some for yourself now, and some for yourself later in retirement)


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