How much should you save in 401k to be comfortable in the future?
By kingparker
@kingparker (9673)
United States
June 23, 2011 3:49pm CST
So, needless to say, the social security fund would be deeply diminished by the time reach year 2036. Further from this year, our social security might be exhausted in the future. 401k is the ultimate resort, and that is why our federal government strongly proposed every employee should take this tax - benefit offer for our retirement plan. I also taking some percentage from my paycheck and save it in 401k plan, I just wonder, what will be the percentage to save from my paycheck, so I will be comfortable when I reach my retirement age?
1 response
@TeamCholent (2832)
• United States
3 Feb 12
This depends on you and your cost of living and expenses. Don't ever allow your retirement fund to be 100% in your 401k but rather have a diverse portfolio. Make sure you own your property. Does your company provide any form of matching contributions? I would max those out if I was you and try your best to save $5,000/year at the very least into your 401k
