is the 15% rec for retirement contribution combined or 15% EACH?

Re: is the 15% rec for retirement contribution combined or 15% EACH?

• athlete010688 member

  

  June 2013

  If you contribute 15% of your income and your husband contributes 15% of his income, then you're contributing 15% of your combined income. I you bring in $100,000 a year and you contribute 15%, you're contributing $15,000 a year. If your husband brings in $120,000 a year and he contributes 15%, he's contributing $18,000. That means your combined income would be $220,000 and 15% of that is $33,000. That is the total of your contributions plus his contributions ($15,000 + $18,000 = $33,000). FYI - I just used some random numbers to make the calculations easier.

  

  

  TTC since June 2012

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• riderpunk

  

  June 2013

  15% Each. 401k should be considered something separate, since it will cover each person individually for their retirement costs.

  

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