2007-12-17 03:13:57 · 4 answers · asked by JS 1 in Business & Finance ➔ Personal Finance
When you say 15% of gross salary, I take it the $450 is in pre-tax dollars. If that is the case, then you should consider it as part of the 15% savings because you are paying yourself first, and that is the most important thing.
2007-12-17 03:19:27 · answer #1 · answered by chungsterama 3 · 0⤊ 0⤋
What is a "penison" fund?? :-) Is this a traditional company pension fund or a 401k?
Good for you for saving what you can towards your retirement!
Well, your gross salary appears to be $36K. If you can, you should bump up your contribution to your 401k to the maximum allowed by your employer and the US tax law ($15,500 for 2007). You're allowed to deduct that from your pay when you file taxes. Also, if you have a tradtitional IRA you can also contribute $4,000 (for 2007) and deduct that from your gross income as well.
Regardless, place as much as you can afford to into your retirement accounts. Remember: nobody cares more about your retirement than you.
2007-12-17 11:31:45 · answer #2 · answered by Terry E 4 · 0⤊ 0⤋
depends on what your gross salary is
2007-12-17 11:18:23 · answer #3 · answered by Anonymous · 1⤊ 0⤋
yes!!!
2007-12-20 16:46:32 · answer #4 · answered by mister ed 7 · 0⤊ 0⤋