3 answers
3
Asked 619 views

how much moey did you invest?

#money #finance

money finance
Answer This

+25 Karma if successful
From: You
To: Friend
Subject: Career question for you
3

3 answers

0
Updated
Share a link to this answer
Share a link to this answer

Simeon’s Answer

On my own, I don't invest that much. My company, like many others, does a 401k matching program where, up to a point, they match how much you put into your 401k. Outside of that, I mostly focus on paying off different types of debt. I find it's a safer investment because once you pay something off, your monthly expenses go down, so there's always a payoff.
0
0
Updated
Share a link to this answer
Share a link to this answer

Roger’s Answer

I am 55 years old.  Since 1987, I have been investing 15% of my salary (or more !) every year.

In addition, the companies where I have worked have contributed an additional 6% of my salary as part of a 401k contribution. 


So, for 30+ years, I have been investing a total of 21+% of my salary. 


When you enter the workforce, I recommend that you do the same. Save 15% of your salary in a 401K or a Roth IRA. 


0
0
Updated
Share a link to this answer
Share a link to this answer

Paul’s Answer

Every employer is different but most will provide a dollar for dollar match on your contributions to the

401(k) plan up to a certain %, usually 4 or 5%. This is the minimum you should be investing! If you can afford to contribute more, please do so but anything less than the company matching % is like leaving free money on the table.


With regards to the 401(k), the maximum you can contribute in a year is currently $19,000. When you are just starting out in your career that may not be reasonable but over time, as your salary grows, you'll be able to contribute more until you reach the max.

0