Comments on: How Much SHOULD You Be Putting In Your 401k? http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/ Teach Your Money To Think! Mon, 21 May 2012 19:33:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: 15 Tips for Saving Money While You Still Have a Job | Steve Rhode http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1422 15 Tips for Saving Money While You Still Have a Job | Steve Rhode Mon, 11 Aug 2008 16:34:49 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1422 [...] 401k Match. The most common method of free money from your employer. Do everything you can to earn the entire match. [...] [...] 401k Match. The most common method of free money from your employer. Do everything you can to earn the entire match. [...]

]]> By: » Saving Money While You Still Have a Job - How to ? What is credit card http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1420 » Saving Money While You Still Have a Job - How to ? What is credit card Wed, 06 Aug 2008 10:15:15 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1420 [...] 401k Match. The most common method of free money from your employer. Do everything you can to earn the entire match. [...] [...] 401k Match. The most common method of free money from your employer. Do everything you can to earn the entire match. [...]

]]> By: 15 Tips for Saving Money While You Still Have a Job | My Dollar Plan http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1421 15 Tips for Saving Money While You Still Have a Job | My Dollar Plan Mon, 04 Aug 2008 14:00:55 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1421 [...] 401k Match. The most common method of free money from your employer. Do everything you can to earn the entire match. [...] [...] 401k Match. The most common method of free money from your employer. Do everything you can to earn the entire match. [...]

]]> By: The Carnival of Twenty Something Finances » Poorer Than You http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1412 The Carnival of Twenty Something Finances » Poorer Than You Mon, 16 Jun 2008 12:37:28 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1412 [...] presents The Wife And I Are Bumping Up The 401k Contributions to 15% - How Much SHOULD You Be Putting In Your... posted at My Investing [...] [...] presents The Wife And I Are Bumping Up The 401k Contributions to 15% – How Much SHOULD You Be Putting In Your… posted at My Investing [...]

]]> By: Net Worth Update June 6, 2008 [$113,261.38(-3.08%)] | My Investing Blog http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1419 Net Worth Update June 6, 2008 [$113,261.38(-3.08%)] | My Investing Blog Tue, 10 Jun 2008 08:08:32 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1419 [...] wasn’t as bad as the numbers make it out to be. Yes, I lost about 3k on the net worth, but I bumped up my 401k contribution to 15% this past month along with my wifes. The 3k loss can most likely be contributed to the landscaping addition I tacked on that sucked [...] [...] wasn’t as bad as the numbers make it out to be. Yes, I lost about 3k on the net worth, but I bumped up my 401k contribution to 15% this past month along with my wifes. The 3k loss can most likely be contributed to the landscaping addition I tacked on that sucked [...]

]]> By: High Return Investing with Dax http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1415 High Return Investing with Dax Fri, 06 Jun 2008 05:38:50 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1415 As much as you can... that's how much you should put. I max out my 401k. Its money I never see, but I'm making 30%+ automatically by virtue of tax savings. Its amazing how many people are content tucking away savings at 2% in the bank while they miss out on this wonderful opportunity to save and invest. <em>High Return Investing with Dax's last blog post..<a href='http://feeds.feedburner.com/~r/DaxDesai/~3/305803567/' rel="nofollow">Breakout Trifecta: POT, V, AAPL</a></em> As much as you can… that’s how much you should put. I max out my 401k. Its money I never see, but I’m making 30%+ automatically by virtue of tax savings. Its amazing how many people are content tucking away savings at 2% in the bank while they miss out on this wonderful opportunity to save and invest.

High Return Investing with Dax’s last blog post..Breakout Trifecta: POT, V, AAPL

]]> By: If Only it was So Easy http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1410 If Only it was So Easy Sat, 31 May 2008 22:03:32 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1410 [...] My Investing Blog aka Men in Black: “First thing is first, I’m a big fan of the 401k and not contributing to it if your company offers it is your first big mistake in investing. Your company is giving you a raise every 2 weeks when you use it. Who doesn’t want FREE money? You’d be surprised…” [...] [...] My Investing Blog aka Men in Black: “First thing is first, I’m a big fan of the 401k and not contributing to it if your company offers it is your first big mistake in investing. Your company is giving you a raise every 2 weeks when you use it. Who doesn’t want FREE money? You’d be surprised…” [...]

]]> By: hank http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1411 hank Fri, 30 May 2008 19:45:56 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1411 @sgries, I also found <a href="http://answers.yahoo.com/question/index?qid=20080417080522AAio7eh" rel="nofollow">this article</a> (<em>Is there a max amount you can contribute to 2 separate 401k accounts if you are married filing jointly?</em>)that may help you out! @sgries, I also found this article (Is there a max amount you can contribute to 2 separate 401k accounts if you are married filing jointly?)that may help you out!

]]> By: hank http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1417 hank Fri, 30 May 2008 03:12:21 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1417 @Pete - Too bad your employer doesn't match; tough break! As far as what to tackle next, again it's your personal choice, and I'm no pro remember, but if I were you... ...I'd actually dig on a ROTH now for 2 reasons. Tax now is almost certainly going to be lower than in the future. You'd be putting in ALREADY taxed money into a ROTH IRA now, and it grows tax-free and is retreived at 59 1/2 tax free. Your 401k is tax deferred now, but it'll be taxed when you take it out, and you can almost be sure the tax rate will be higher in 30 years with inflation than it is today. As far as what to put your ROTH in, I'm <a href="http://myinvestingblog.com/2008/02/08/i-bought-500-more-of-swegx-in-my-roth-ira/" rel="nofollow">riding in SWEGX</a> right now and it has done pretty well for me. <a href="http://finance.google.com/finance?client=ob&q=MUTF:SWEGX" rel="nofollow">Low expense ratio</a> (0.80%), <a href="http://www.google.com/url?q=http://quicktake.morningstar.com/Fund/Snapshot.asp%3FCountry%3DUSA%26ss%3Dgf%26Symbol%3DSWEGX&sa=X&oi=mutual_fund&ct=provider&cd=2&usg=AFQjCNEPhHueUBRHuuqEP_HNzCrvwxFsNw" rel="nofollow">5 star from Morningstar</a>, <a href="http://finance.google.com/finance?client=ob&q=MUTF:SWEGX" rel="nofollow">low buy in price</a> ($100). @Momma - good idea! @sgries - Thanks for stopping by! You're MORE than ahead of about 98% of people that have a 401k available! They just don't realize the benefits! You're already getting 3% worth of immediate 100% return on your money. Nice job! I wouldn't say you're far behind at all, I'd actually say you're far AHEAD of most people! As far as the calculation, think of your total income between yourselves. If you make 50k and he makes 50k, that is 100k total. Take 15% of that or $15,000. That's your number! Hope that helps! @MoneyEnergy - Absolutely! Does your RRSP provider match to you? @Pete – Too bad your employer doesn’t match; tough break! As far as what to tackle next, again it’s your personal choice, and I’m no pro remember, but if I were you…

…I’d actually dig on a ROTH now for 2 reasons. Tax now is almost certainly going to be lower than in the future. You’d be putting in ALREADY taxed money into a ROTH IRA now, and it grows tax-free and is retreived at 59 1/2 tax free. Your 401k is tax deferred now, but it’ll be taxed when you take it out, and you can almost be sure the tax rate will be higher in 30 years with inflation than it is today.

As far as what to put your ROTH in, I’m riding in SWEGX right now and it has done pretty well for me. Low expense ratio (0.80%), 5 star from Morningstar, low buy in price ($100).

@Momma – good idea!

@sgries – Thanks for stopping by! You’re MORE than ahead of about 98% of people that have a 401k available! They just don’t realize the benefits! You’re already getting 3% worth of immediate 100% return on your money. Nice job! I wouldn’t say you’re far behind at all, I’d actually say you’re far AHEAD of most people!

As far as the calculation, think of your total income between yourselves. If you make 50k and he makes 50k, that is 100k total. Take 15% of that or $15,000. That’s your number! Hope that helps!

@MoneyEnergy – Absolutely! Does your RRSP provider match to you?

]]> By: MoneyEnergy http://www.myinvestingblog.com/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1418 MoneyEnergy Fri, 30 May 2008 00:36:53 +0000 http://myinvestingblog.com/2008/05/29/the-wife-and-i-are-bumping-up-the-401k-contributions-to-15-how-much-should-you-be-putting-in-your-401k/#comment-1418 This post makes me feel anxious again to get building up my RRSP (what the 401k is called in Canada). The flipside to the 401k/RRSP philosophy, of course, is that you can use that money to buy yourself a stream of dividends NOW, which will last you through to retirement. This is something that InvestorBlogger and I were talking about. Of course, yes, they're taxed, though. And if you are working somewhere where you're lucky enough to have an employer match your contributions, by all means, do that first. I agree with that. This post makes me feel anxious again to get building up my RRSP (what the 401k is called in Canada).

The flipside to the 401k/RRSP philosophy, of course, is that you can use that money to buy yourself a stream of dividends NOW, which will last you through to retirement. This is something that InvestorBlogger and I were talking about. Of course, yes, they’re taxed, though.

And if you are working somewhere where you’re lucky enough to have an employer match your contributions, by all means, do that first. I agree with that.

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