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How much of your paycheck do you put into a retirement account?

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  1. coolhandkev coolhandkev is offline

    IL
    United States

    Posts: 5,973
    Joined: Aug 07

    Aug 16th, 2010 (8/16/2010 10:01pm) in reply to Sokpuppet7

     
    Originally Posted by Sokpuppet7 View Post

    Yeah, I didnt think of that, but I've never known anyone with a Simple IRA. I'm a banker and I've yet to run into anyone with one. I'm actually not even 100% sure what it is but I think it's an employee sponsored retirement plan where they match your contributions. Not really sure how it works though

    I got one! It's for small businesses with less than 100 employees and it has either a mandatory 3% match or a 2% non elective contribution by the employer regardless of employee contribution. It's pretty nice.
  2. Sokpuppet7 Sokpuppet7 is offline

    Fort Worth, TX
    United States

    Posts: 4,409
    Joined: Sep 05

    Aug 16th, 2010 (8/16/2010 10:07pm) in reply to coolhandkev

    Nice, I was actually just about to ask if that was the one where you had to have 100 or less employees to qualify for it. Sounds like a pretty sweet deal.
  3. Epiphany Epiphany is offline

    Lincoln, AL
    United States

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    Joined: Oct 08

    Aug 16th, 2010 (8/16/2010 11:22pm) in reply to tkeat1653

    7 %. Plus 5k into Roth. Plus ESOP. About 15% total.
  4. gunitkracker gunitkracker is offline

    Posts: 159
    Joined: Sep 08

    Aug 16th, 2010 (8/16/2010 11:50pm) in reply to Epiphany

    I put 5% of my pretax income plus matching into 401k (the max). Then after that i put about 9% of my after tax income (~6% pretax) income into a Roth IRA. I'm only 24, so I'm actually pretty proud of myself. When my salary increases my goal is to max out the Roth IRA.
    Edited By: gunitkracker Aug 16th, 2010 at 11:50 PM
  5. MeJahAndOmaha MeJahAndOmaha is offline doesn't talk to roommates

    Posts: 3,175
    Joined: Feb 08

    Aug 17th, 2010 (8/17/2010 12:07am) in reply to gunitkracker

    0
    Edited By: MeJahAndOmaha Dec 29th, 2010 at 02:54 AM
  6. Hughester Hughester is offline

    Canada

    Posts: 493
    Joined: Jan 06

    Aug 17th, 2010 (8/17/2010 12:16am) in reply to MeJahAndOmaha

    I do 3% +1.5% company match into a DCPP (Canadian yo) and then 5% +2.5% match into the company's stock plan (stock split 60/40 between an RRSP and a NREG account). Just hate that the company match is so low.

    If anyone works for a company that provides a match, the minimum you should be putting in is whatever will max out the company match. If someone wants to give you free money you grab it likes it's boobies.
  7. LVpokerdealer LVpokerdealer is offline

    Las Vegas, NV
    United States

    Posts: 12,098
    Joined: Apr 06

    Aug 17th, 2010 (8/17/2010 12:25am) in reply to Hughester

    I put 4k into a roth Ira from 18-24 yrs old, then 5k into the last 3 yrs...and 30% of my paycheck from MGM, so about 7500 a year for the last 5 years. They were matching 50 cents on the dollar until the economy collapse
  8. ripomatic ripomatic is offline

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    Aug 17th, 2010 (8/17/2010 12:29am) in reply to LVpokerdealer

    my company match's 50% up to 10% of my pay....obv i'm at 10%.....can put up to 40% of my pay.....
  9. kidrockin kidrockin is offline cro magnon

    Yeniky
    Turkey

    Posts: 7,540
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    Aug 17th, 2010 (8/17/2010 12:35am) in reply to ripomatic

    bout 13k between 401k, pension, union benefit fund. another 1.5k in a mutual fund

    I need to start an IRA
     
  10. User475 User475 is offline

    Webster, NY
    United States

    Posts: 76
    Joined: Aug 10

    Aug 17th, 2010 (8/17/2010 12:41am) in reply to kidrockin

    $0 not by choice, that's just how it worked out.
  11. niptuck niptuck is offline

    United States

    Posts: 3,422
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    Aug 17th, 2010 (8/17/2010 12:48am) in reply to User475

    I don't have a pension so I max out my SEP.
  12. PoWdA PoWdA is offline Waco nuthugger

    Lakewood, CO
    United States

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    Aug 17th, 2010 (8/17/2010 12:50am) in reply to niptuck

    A lot
  13. Phi Phi is offline aka tennisee

    Posts: 16,250
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    Aug 17th, 2010 (8/17/2010 12:55am) in reply to PoWdA

    Whatever Social Security takes out.
  14. time4badbeat time4badbeat is offline

    WI
    United States

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    Aug 17th, 2010 (8/17/2010 12:56am) in reply to Phi

    I do 5% and the company matches that 5% so about 10% total - I was talking to my friend's dad who is an adviser and he said these days you definitely need to bump it up to 15-20% range because the returns we'll see in the next 40 yrs aren't going to be close to the ones seen the last 40. So my plan is once I start making a bit more I could do another 5% in a Roth IRA for 15% total.
    Edited By: time4badbeat Aug 17th, 2010 at 12:57 AM
     
  15. gutbirdxx gutbirdxx is offline

    Spokane, WA
    United States

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    Aug 17th, 2010 (8/17/2010 1:35am) in reply to tamayo85

     
    Originally Posted by tamayo85 View Post

    not enough

    10% pre into 401k, w/ employer match 5%. Fucking stock market...I put in 8k last year and my account balance went down 15% for the year. Guess I'm buying cheap shares tho and will be looking good if it turns around before 2012 and we all die in a meteor shower. I'm thinking about cashing it out now and going out in a blaze of glory, hookers, and blow.
  16. zander zander is offline anomaly in his crotch

    Malaysia

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    Aug 17th, 2010 (8/17/2010 1:42am) in reply to gutbirdxx

    If we're still here in 2013, then I'll start thinking about it. Mostly that mental conversation is going to go like this: Welp, odds of me living to retirement age are slim, so zero. Guess I should just take what pittance I would be contributing and give OT poker steaks, living off those returns.
  17. heavykiddy heavykiddy is offline

    Bristol, CT
    United States

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    Aug 17th, 2010 (8/17/2010 2:01am) in reply to tkeat1653

    7% pretax goes to 401k (company matches 50% of my contributions too, so add another 3.5%) - up until the legal limit
    3% aftertax goes in roth ira
  18. Zien50 Zien50 is offline

    Mississippi State, MS
    United States

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    Aug 17th, 2010 (8/17/2010 2:06am) in reply to heavykiddy

    For any OTers that are really good with money, I'm willing to pay $50 for good advice on how to go about this very question. Just started working for ExxonMobil, they match your 6% w/ 7% of theirs and you can get like 27% of yours matched or whatever, but you can choose how you want it done (before tax vs after tax) and then from theres there is a lot of options on how you can invest their match or your savings or anything like that. If anyone wants to sit down and look at what they have to offer and help me out w/ whats best for me I'll give you $50 on stars. Has to be real solid advice though. The document with their options/benefits is online, let me know
    Edited By: Zien50 Aug 17th, 2010 at 02:07 AM
  19. URI_Stunna URI_Stunna is offline

    Kingston, RI
    United States

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    Aug 17th, 2010 (8/17/2010 2:10am) in reply to Phi

     
    Originally Posted by PhiAlphaMTSU View Post

    Whatever Social Security takes out.

    This. Which I most likely will never see unless I lose my eyes anytime soon.

    If a pokerstars/ftp..etc account is a retirement account than about 80% / week
  20. Mr Galt Mr Galt is offline sister-in-law's a ho

    Overland Park, KS
    United States

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    Aug 17th, 2010 (8/17/2010 3:27am) in reply to URI_Stunna

    6%. Company matches 3%
  21. snaggs snaggs is offline

    Lancaster, PA
    United States

    Posts: 3,707
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    Aug 17th, 2010 (8/17/2010 4:26am) in reply to Sokpuppet7

     
    Originally Posted by Sokpuppet7 View Post

    Yeah, I didnt think of that, but I've never known anyone with a Simple IRA. I'm a banker and I've yet to run into anyone with one. I'm actually not even 100% sure what it is but I think it's an employee sponsored retirement plan where they match your contributions. Not really sure how it works though

    I have simple IRA it really isn't all that different. I pop 7% have matching up to 3%.
     
  22. curiousgeorge curiousgeorge is offline baby duck hat

    Las Vegas, NV
    United States

    Posts: 7,193
    Joined: Nov 07

    Aug 17th, 2010 (8/17/2010 7:14am) in reply to MUPokerPlayer

     
    Originally Posted by MUPokerPlayer View Post

    0%. I live paycheck to paycheck at the moment.

    arent u a doctor?
  23. aad aad is offline

    Detroit, MI
    United States

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    Aug 17th, 2010 (8/17/2010 1:46pm) in reply to tkeat1653

    6% plus 6% company match.
  24. ripomatic ripomatic is offline

    Posts: 3,228
    Joined: Jan 08

    Aug 17th, 2010 (8/17/2010 2:07pm) in reply to LVpokerdealer

     
    Originally Posted by LVpokerdealer View Post

    I put 4k into a roth Ira from 18-24 yrs old, then 5k into the last 3 yrs...and 30% of my paycheck from MGM, so about 7500 a year for the last 5 years. They were matching 50 cents on the dollar until the economy collapse

    pretty sure you will retire more than well off....
  25. iatetheredcrayon iatetheredcrayon is offline

    Austin, TX
    United States

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    Aug 17th, 2010 (8/17/2010 3:03pm) in reply to ripomatic

    Into retirement system: forced 6.5% with 5.5% match. Then an extra ~4.5% into a 457. Wanna retire on time_ and live well!
  26. RichardHurtz RichardHurtz is offline

    Russian Federation

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    Aug 17th, 2010 (8/17/2010 3:35pm) in reply to tkeat1653

    I have a company provided pension and put 2 K a year into wife's IRA, plus about 5% into my 401k.

    Live better, work union.
  27. WeWaysAwIn WeWaysAwIn is offline

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    Aug 17th, 2010 (8/17/2010 7:13pm) in reply to tkeat1653

    50%. For a while I put it all in my savings so I have too high of a percent of my money in savings/CDs, so I'm trying to get more of it in the market. I'm 21 and my parents pay for school so obv its a little different from people who are spending their paycheck on things besides beer and dates.
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