Hi PF
I am new to the sub and new to finances so bear with me.
I just got a raise and want to contribute more to my 401k. I see that PF recommends only contributing what the employer will match and this is where I am confused on the wording.
My employer says for every dollar saved in the plan, up to 3%, they will contribute 50 cents to my account up to a max of $750 a year. With my raise I will be making $36,400 a year. How much should I contribute each paycheck? 3% for the year is $1092 so $21 a paycheck, I currently contribute $20 a paycheck but this seems so low? Should I be opening another savings account or stick with the 401k for now? Thank is advance.
Submitted April 05, 2019 at 09:35AM by hgryffindor25 http://bit.ly/2UCR8oe
