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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
How much do you contribute to your retirement?
I used to contribute 2%, and my employer contributed 6%. I just got the contract for a new position I accepted and I have to contribute the whole 8% myself. I am just wondering what is normal... thanks!
Re: How much do you contribute to your retirement?
Life and Love at #16 | our married life blog
Currently 5% and my employer gives everyone 3% even if they dont contribute plus they do an additional 4% if you do contribute...so I get a total of 12%.
I will up mine to 10% once DH finds a job. Fortunately I can change my contribution amount on a monthly basis instead of waiting for the new quarter.
Contribute as much as you can afford. We are older and DH contributes 10%, his employer matches 5%. Also if you qualify for a Roth IRA, contribute to that as soon as possible to diversify your retirement investments.
When I was working I contributed 5% to my 401k. My employer matched 100% up to 4%. I just rounded it up to 5.
I also maxed out my Roth every year and saved an additional $150 a month in a mutual fund type account.
After I got married, we really upped our savings (retirement and general) by saving my entire salary and living off my DH's. We were able to do that for just over 3 years.
I'm now a SAHM. My DH saves 10% of each paycheck automatically. We also both still max out our Roths and put $250 a month into our investment accounts.
We could do more, but we choose to put money in our kids' 529's every month as well.
I am required to put 11% into my pension fund.
I also put 10% into my 403B.
It isn't normal for an employer to put more in than you.
I've put in different amounts depending on my situation (anywhere from 10% to 17%).
They say you should contribute 10%-15%.
Your budget should be 50-30-20 (50% Needs, 30% Wants, 20% Savings (EF's & Retirement Savings)
So we try to stick with this, I think right now we are saving 24%.
I upped mine to 12% once we got married this year from 7% on my own. My new company does not match until I am vested after 1 year. DH contributes 10% to his. His is matched up to 2%. I will up mine to 15% the next raise I get. He also contributes a small bit to a union pension in addition.
10-15% seems to be what I hear I need to be doing. I was much lower than that for many years so we need to catch up a bit.