Post # 1
What portion of your income do you put into retirement accounts? The poll is for your own or joint income, not what your employer matches, etc.
We are putting away 35% of our income at the moment. Five individual accounts are being maxed out, with hopes of adding one more account or maybe putting that towards paying down the house once I get my raise this summer.
Our jobs give us 14.2% of our individual incomes as part of our benefits (we are not able to contribute to these 401a). We work for the same university.
My parents are so bad off financially speaking. I just want to do better than they did. My sisters did not get the same idea however and kind of followed mom/dad’s path. I wonder why it affected me more?
Fiance and I find saving for retirement a priority (with hopes to retire early too), so much that we want to keep our wedding $5k or less, even if it’s just an elopement vacation for two. Don’t want to affect the retirement contributions! We could make it really cheap but I want a nice photographer, nice wedding dinner and splurge on a hotel night or two (the other nights we can camp).
How much of a priority is saving for retirement to you?
Do you share the same views as your partner?
Post # 3
Saving (in general, but specifically so we can retire early) is a huge priority for us. We are both on exactly the same page. We contribute the max we can 401k and RothIRA. We have both done this for almost as long as we have been working after college.
Post # 4
4% to 401K, which my employer matches.
Right now our focus is paying down debt and developing disposable income savings for the future. We already own a home and have 1 of our 2 vehicles paid off.
Post # 5
@sweetcrackers: I’m in the same position, 5% goes to 401k 4% is matched by my empoyer. I care more about getting my student loans paid off (which currently take about 20% of my take home pay) and saving up a cash account for emergencies (another 15-20%). When I have more of my debt paid off I’ll start maxing out retirement accounts.
Post # 6
Wow! You go girl — I put away 5% and FH does 12%. His matching is awesome, and mine is just okay. We don’t have a ton of funds to put aside right now, but retirement is a huge goal for us. Aside from our mortgage, we have zero debt and intend to keep it that way!
Post # 7
I max out to my 401k and Roth IRA. I don’t remember what the percentage is. My employer only matches 3%, but it’s worth it to me. It bumps be down to a lower tax bracket and I don’t even miss the money since it is never in my account.
Post # 8
Thankfully I paid off my student loans in November before I even graduated (this month).
If we marry this year, our taxable income will be lowered considerably, but not quite into a different tax bracket.
I look at my budget spreasheets daily. I’m a little obsessed.
Well, I have no wedding to plan at the moment so I always need a “project” to do! I like playing in Excel.
Post # 9
I put in 6% of my income and my employer matches half, up to 3%, which is what I get.
Post # 10
To the “over 45%” – awesome!
Post # 11
For me, right now not enough ($0 which is all of my salary). Darling Husband is doing some and I’m aware of our finances but the number automatically deducted is slipping my mind right now, maybe 4% (plus matching). We are saving beyond that though.
It’s not much, but our tax bracket is going to change significantly over the next few years and we want to buy a house.
After we buy a house (may use the HBP) and I am working we will make sure that our RRSPs will even out (and that more is going in!) RRSPs have a max of 18%, otherwise there isn’t much that you can do specifically for retirement here, unless you’re counting pension plans or just savings that people earmark as for retirement.
Post # 12
I put in 5%, which is matched fully by my employer. Once student loans are paid off and we have a house, I’l start putting more in the retirement account. But right now, my focus is throwing more money at student loans, so those will be gone faster!
Post # 13
@sienna76: GREAT for you! Very responsible. My parents spend money they don’t even have & I doubt my step-dad will ever retire… The children of these kinds of people typically either follow in their path or see the adverse effects & choose to build up a solid nest egg (the route you’ve gone). It’ll definitely pay off in the end. 🙂
Anyway. I do 6% (employer matches half) & I’m pretty sure the Boyfriend or Best Friend does 12%. We take out as much as we can w/out compromising recreational activities & the wedding/house fund. Retiring early is important to both of us!
Post # 14
I’m putting in 8% at work, of which 5% is matched. Darling Husband isn’t doing anything, but he is still in a minimimum wage job and went back to school part time 3 years ago (only 1 semester left!). Once he finds a better job (hopefully by early next year), we’ll bump it up significantly.
Post # 15
I put 6-10% – my own portion. FI gets government disability from the VA department, and will for the rest of his life, so there is no contribution there, but it’s significant what we receive each month.
Post # 16
6% which is the maximum that is fully matched by my employer. I’ve seen all the figures that show how important it is to contribute as much as possible now because it grows so significantly when compared to putting more in even a few years down the road, but it’s SO HARD to put in additional money when we have so many things to pay for right now!