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Old 11-15-2012, 07:30 AM
 
Location: Washington, DC area
607 posts, read 1,216,643 times
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I just calculated it and I save about 23% of my gross income. Some goes to my 401K and the rest is split between saving for future spending (vacations, gifts..) and a downpayment for a home.
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Old 11-15-2012, 03:39 PM
 
4,338 posts, read 7,506,118 times
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Anyone did $17K for 401K and $5K on Roth IRA this year?
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Old 11-15-2012, 04:25 PM
 
Location: Reno (Cold Springs) NV
131 posts, read 260,699 times
Reputation: 160
$1,481.77 per month over the last ten months. A 7.85% increase over our beginning year total, the percentage from what we make matters little to us as long as we do not have a decreasing account value.
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Old 11-26-2012, 01:42 PM
 
75 posts, read 173,644 times
Reputation: 39
this posts how much you save not what % of income you save...i don't know why people are so afraid to reveal a dollar figure...no one knows you on here.
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Old 11-26-2012, 10:02 PM
 
680 posts, read 1,920,902 times
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Quote:
Originally Posted by Info Guy View Post
Anyone did $17K for 401K and $5K on Roth IRA this year?
Yes... but if your company only matches up to a certain percentage per pay period, you should probably spread out the $17K across the entire year.

I typically contribute the max to my ROTH at the beginning of the year. I have not yet contributed my entire $17K to my 401K, but am on track to hit it on 12/31 in order to maximize my employer contributions.
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Old 11-27-2012, 07:33 AM
 
837 posts, read 1,798,228 times
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Quote:
Originally Posted by volk2k View Post
Yes... but if your company only matches up to a certain percentage per pay period, you should probably spread out the $17K across the entire year.

I typically contribute the max to my ROTH at the beginning of the year. I have not yet contributed my entire $17K to my 401K, but am on track to hit it on 12/31 in order to maximize my employer contributions.
Most companies have a true-up process. It's not usually advertised because it really only matters for high incomes but for instance, if you have to contribute 6% in order to get a full company match - and your income is $500,000, you'll hit the limit in 7 months then have to go to 0%. So as not to penalize people with higher incomes, they usually do a true-up calculation at end of year. The nice thing about front-loading your 401k this way is that when Christmas season rolls around you've got a sudden increase in your paycheck to fund it.
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Old 12-02-2012, 06:34 AM
 
4,130 posts, read 4,460,163 times
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I save roughly about 30% of my income now, which is actually down from what it used to be. I've invested enough in the beginning that the investments themselves have been earning more of a return then i have been saving. i also spent a great deal of time increasing my earning potential so that 30% is part of a much larger pie.
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Old 12-02-2012, 02:43 PM
 
16,393 posts, read 30,267,578 times
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Quote:
Originally Posted by chicagotodc View Post
Most companies have a true-up process. It's not usually advertised because it really only matters for high incomes but for instance, if you have to contribute 6% in order to get a full company match - and your income is $500,000, you'll hit the limit in 7 months then have to go to 0%. So as not to penalize people with higher incomes, they usually do a true-up calculation at end of year. The nice thing about front-loading your 401k this way is that when Christmas season rolls around you've got a sudden increase in your paycheck to fund it.
Other reasons to front-load the 401(k) contributions include:

1) Higher paychecks at the end of the year.
2) Larger deduction should you be terminated in the year.
3) Ditto if employer.
4) If the market generally provides positive return wouldn't you prefer to have invested as long as possible.
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Old 12-02-2012, 02:46 PM
 
15,638 posts, read 26,247,288 times
Reputation: 30932
Quote:
Originally Posted by mdwfa2001 View Post
this posts how much you save not what % of income you save...i don't know why people are so afraid to reveal a dollar figure...no one knows you on here.
And yet -- I don't see you doing it.....
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Old 12-02-2012, 05:28 PM
 
Location: Auburn, AL
115 posts, read 174,551 times
Reputation: 176
I deposit a disgusting (good) amount into my savings account each month. I was underemployed for quite a while and feel as if I have some "catching up" to do.
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