Quote:
Originally Posted by Xtabi
Quote:
Originally Posted by bimmer456
Quote:
Originally Posted by Xtabi
1.6% including my wife's salary.
3.06% with salary only.
That is gross salary income through employers. Not including investment income.
We both max out our employee provided retirement and dump 8% into ESPP. Too lazy to give you the finer details in order to figure out the percentage based on net income. Too many things to back out and would need to pull up a paystub. The percentages will be a lot higher though. Sorry too lazy for all of that!  |
I financed my cars through my HELOC so it is tax deductible and I can take up to 30 years to pay it off if I wanted to, but will pay it off sooner or sell it before then and recoup some of the cost. As far as my retirement plan, I've decided to invest on my own since I can do better than the mutual funds offered in my 401k. The 401k is mainly because it is a tax shelter, but I can still beat the mutual funds even with their tax advantages so I'm doing a Roth IRA and then just a non tax sheltered investment brokerage account that I can withdraw from any time but will have to pay capital gains tax. Would rather have access to the money now rather than waiting 'till I'm 65 which is still a ways away and I can make more money in the meantime. I'm even contemplating investing money from the HELOC as I can beat the interest rate that's being charged, but not ready to be that adventurous just yet, I'll have to see if the bull market continues, though I have a strategy for making money in a bear market as well after noticing some trends lately. |
You are missing out on your employer's 401k matching! For example I get $9,000 free when I dump in my $18,000/year. So $27,000 a year goes in but 1/3 is free money.
Just make sure to at least put in enough to get the free employee contributions. At least that is my *opinion.
*Insert fine print and leagleese language here including past performance is no guarantee of future outcomes. |
Not every employer has 401(K) match. Some just have a plan for employees to defer with no matching. Some have generous matching and many are in between those 2 extremes.