Current Events > How much are you saving for retirement?

(+) Yeah! (+)

Trying to put like $100 a month in a Roth IRA.

And 3% of my paychecks to a 401(k) which my job matches 50% of

At this rate I may be able to afford a down payment on a used Toyota Corolla when Im in my 60s!

6% in 401k and get a 5% match I think (maybe only 4%)
Maxing IRA for myself and wife
Hopefully the house will be paid off in a few years and then increase 401k more

Oh yeah forgot about the house. Assuming we never move or refinance and just keep making minimum payments itll be paid off right before my 57th birthday. Would like to shave some time off that and knock it out before Im 50 though.

Its a pretty big house so well probably end up staying here. So itll make retirement a lot easier when we just have taxes and insurance to pay for.

I'm only able to really contribute about $125-200/month into my Roth, but the goal is to increase that to about $500/month or so in the next few years. But I also have a decent pension.

Wife has about 10% of her gross going into her 401(k), and I think her employer has a 3% or 4% match.

RIP enzc

I'm putting 7% of my paycheck into a 401k, employer matches this by 11% for a total of 18%.

Dat_Cracka_Jax posted...

RIP enzc

I still have 60,000 shares of that. Its my long-term lottery ticket

If it ever pumps again Im rich as long as I actually sell it this time.

If it fades into obscurity forever then oh well, bought those shares like four years ago so Im not really missing the $800.

about tree fiddy.

Im not actively saving for it in a deliberate way. In a month or so Ill be looking to buy a house for cash though, so thats a a fairly significant development.

Not a clue. It's going somewhere I think.

I do 8% of my paycheck in my work retirement and my work contributes not just a match but doubles what I put in.

I do various other investments. My house is completely paid off and has been for awhile. I live in a very cheap cost of living area of the Midwest. I only have monthly required bills which are cheap and I make good money at my job for the area.

As sad as it will make me someday Ill inherit a lot from my dad. I dont want it, nor even need it but itll just be more money.

The reality is financially Im sitting quite good. And right now at 48 Im really only working for the insurance at this point. I get excellent free health insurance through work which I need due to some issues.

If I could keep my free insurance Id honestly retire at probably right around 55.

Currently, I'm not. This job starts match after a year, so I'll at least start then if I still work here.

i don't have a retirement plan at all.

My retirement plan i have narrowed down to two options.

1, work until I fall over dead.

And 2, Giant Meteor of 2035

I think I'm putting 11% (this might include what the employer is contributing). Put whatever contributions to make you in a lower tax bracket.

Retirement?

I max my 401k and Roth.
Wife puts like 4% into her 401k.

Would like to max out my wife's once these other loans are taken care of.

Lotto plans:
I have a few thousand shares from a startup company I used to work for
My daughter makes it big in the future

archizzy posted...

I do 8% of my paycheck in my work retirement and my work contributes not just a match but doubles what I put in.

I do various other investments. My house is completely paid off and has been for awhile. I live in a very cheap cost of living area of the Midwest. I only have monthly required bills which are cheap and I make good money at my job for the area.

As sad as it will make me someday Ill inherit a lot from my dad. I dont want it, nor even need it but itll just be more money.

The reality is financially Im sitting quite good. And right now at 48 Im really only working for the insurance at this point. I get excellent free health insurance through work which I need due to some issues.

If I could keep my free insurance Id honestly retire at probably right around 55.

Damn, where do you work? That "match" and free health care are really nice.

Ryven posted...

My retirement plan i have narrowed down to two options.

1, work until I fall over dead.

And 2, Giant Meteor of 2035

While that isn't my plan, I don't really see anything but this happening for anyone under 50 at this point. 401k, investments or neither.

In order to budget in the recommended fashion of 50/30/20, many states are just not realistic for a majority of jobs currently on the market.

Source: https://www.cnbc.com/2024/04/16/salary-a-single-person-needs-to-live-comfortably-in-every-state.html

about $400 a month, half into a traditional TSP and half into a roth TSP.

That is matched by my employer

Dat_Cracka_Jax posted...

Damn, where do you work? That "match" and free health care are really nice.

I work for a state university in the Midwest. We get crazy good benefits. The benefits have always been strong because the pay runs slightly less than what you can get outside the university. I work at the power plant and could leave and go to the city utility and make about $20k more a year instantly.

But I love my schedule and benefits where Im at. Free insurance makes a big difference and in the king run my retirement will crush what it would be at the city. I took all of this into account 25 years ago when I started.

I get tons of vacation, like 6 weeks a year, if I work overtime I can take that as compensatory time and take comp time off without using vacation. I get 18 paid sick day a year I can use. The list goes on and on. My benefits package is top tier and I still make damn good money for my area.

https://gamefaqs.gamespot.com/a/forum/f/f8175abc.jpg

Haha, retirement