what do you do and what do you suggest for me?
2006-10-11 06:41:48 · 5 answers · asked by AFwife 4 in Business & Finance ➔ Careers & Employment
I have yet to worked in a job that has a 401k, but the rule according to many people is to put in the top amount, typically 10%. You may need the money now but it doesn't hurt to put in a large percentage at the beginning when down the line later on that money will become useful. Plus, interest should acrrue on the amount and some companies may even match what you put in, so instead of putting in 10%, the company will match it and put in anoth 10, equaling 20. Not bad at all =)
2006-10-11 07:05:25 · answer #1 · answered by Frank 2 · 0⤊ 0⤋
Put in as much as you are comfortable with. Every time you get a raise increase your savings by half of that raise, you wont need it as you are used to living on less. At some point you will max out at 10% of your income. Just put that much in and you will be in better shape long term than 95% of America in 40 years.
2006-10-11 13:52:09 · answer #2 · answered by my_iq_135 5 · 0⤊ 0⤋
Hi, Start out by putting in what you can afford. The younger you start the better off you will be. As your wages grow you can add a little at a time until you are putting in all that the government will allow you. You will be surprised at how fast your savings will grow. Good luck to you.
2006-10-11 13:49:07 · answer #3 · answered by arthurbel33 4 · 1⤊ 0⤋
Put as much as you can afford in, see if you can do at least 10%. Believe me, once you get used to it, you won't even miss it, and it will really help you save a lot.
2006-10-11 13:49:45 · answer #4 · answered by momcat 4 · 1⤊ 0⤋
50%
2006-10-11 13:53:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋