Retirement Planning Thread

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moonarchia

moonarchia

The Scientific Shitlord
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Jysin said:
I just want to make sure you are reading your company plan correctly. Do they match 100% up to 6%? Because it is common (my company do this too) for them to partial match up to 6%. Ie: You contribute 6%, but the company only matches 50% of up to 6% income. So, your 6% + their match is technically only 3% = 9% contribution... not 12%. Some do match 100%, but it is quite rare. My company is a fortune 50 company and those cheap fuckers don't 100% match.

Better to grasp this now while you are planning early.
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They match 100%. Plus that 3% bonus if you stay for 3 years. Total of 15% if I am putting 6% in. Which I am. They were very thorough going over all that when I went from contractor to permanent. I also see the running totals on every pay stub.
 
Julian The Apostate

Julian The Apostate

Vyemm Raider
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I've been maxing out my traditional IRA but don't contribute anything to a 401k. I own a small business with 2 employees, what are my options for starting a 401k?
 
Cad

Cad

scientia potentia est
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Kiroy said:
The short sightedness is where i'm coming from when it comes to the insane retirement collapse we're heading into the next few decades. No one is saving, including people who on paper can and should be.
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Dumb people aren't saving.
 
Khane

Khane

Got something right about marriage
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Debt is sexy. Why save/invest when you could have all the things RIGHT NOW?!
 
Kiroy

Kiroy

Marine Biologist
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Julian The Apostate said:
I've been maxing out my traditional IRA but don't contribute anything to a 401k. I own a small business with 2 employees, what are my options for starting a 401k?
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Simple IRA is very easy, that's what we use with 4 employees. We match up to 3% for our employees so they all chose to save 3% to get the match, and the cap (more pertinent to you, the owner) is 12500 plus 3% of your net up to X amount I think. The cap is low but the maintenance of the plan is almost zero. Between that and individual IRAs wife and I are almost able to hit 40k a year which really helps so much with taxes. We do ours through vanguard. Very easy to set up and once the innitial paperwork is done you can self manage it online. I just go in once every 2 weeks and put in my employees shit manually.
 
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