I got a raise!

[Louisville Slugger]

$1,027.40 more a year.

Hey, I'll take it.

[Chordata]

Hey, in this day and age, every little bit helps. Congrats as I'm sure you deserve the raise!

[Al_The_Strange]

Every little bit helps. Congrats!

I'm actually getting a bonus this year for good behavior. $1000 or so; should fetch a good number of Blu-Rays.

[Blu-Benny]

I’d take that too!!! My annual raise I got @ the end of the year got me about $675/year.

[Louisville Slugger]

Wow you guys respond fast, thanks.

[MaCruz]

Congrats Slugger!

Our annual review is typically in February. I'm hoping to at least get 3%.

[SDon1969]

Congrats, Slug! I'm due for one this month, too. Probably 3% but hoping for an actual promotion and bigger raise this time around.

[Louisville Slugger]

Now if I can only get a little over 2% raise from now until 2054, maintain a 20% contribution rate to my 401(k), get a company match of $0.40 for every dollar I contribute and earn around 7%.

That should result in a nice nest egg. After taxes and inflation though,

I doubled my contribution rate in 2012 from 10% to 20%.

[Adrock]

Originally Posted by Louisville Slugger

I doubled my contribution rate in 2012 from 10% to 20%.

Smart move. I bumped mine up this year as well.

Congrats on your raise!

[Blu-Benny]

Ok, I’m way out of my league here.

20% of your income before taxes goes to your 401k??

There’s no way I’d be able to do that. Between our bills and daycare, we’d never survive!!

I’m putting 4% or 5% in right now and have MAYBE $30 left after each of my paychecks.

We don’t have any crazy bills either. House, utilities, phone/internet, car.

[Johnny Vinyl]

Congrats indeed! Always great to hear the working man getting a raise!

[MaCruz]

Originally Posted by Blu-Benny

Ok, I’m way out of my league here.

20% of your income before taxes goes to your 401k??

There’s no way I’d be able to do that. Between our bills and daycare, we’d never survive!!

I’m putting 4% or 5% in right now and have MAYBE $30 left after each of my paychecks.

We don’t have any crazy bills either. House, utilities, phone/internet, car.

I think I have roughly 5% going in there

I haven't checked my 401K though because I'm afraid to see the balance if you know what I mean.

[Blu Titan]

Originally Posted by Louisville Slugger

$1,027.40 more a year.

Hey, I'll take it.

Getting any kind of raise is great news nowdays!

[jbig31]

Instead of giving us a $15 raise on our base pay, this year our company frontloaded the $780.00 up front.

PLUS, I upped my 401(k) from 9% to 12% + 2% company contribution = 14%.

P.S. Congrats on the raise!

[Blu-Benny]

Originally Posted by MaCruz

I think I have roughly 5% going in there

I haven't checked my 401K though because I'm afraid to see the balance if you know what I mean.

mine dropped about $3k on my last statment. but it's up $3k or $4 on this next one.

[Louisville Slugger]

Originally Posted by Blu-Benny

Ok, I’m way out of my league here.

20% of your income before taxes goes to your 401k??

There’s no way I’d be able to do that. Between our bills and daycare, we’d never survive!!

I’m putting 4% or 5% in right now and have MAYBE $30 left after each of my paychecks.

We don’t have any crazy bills either. House, utilities, phone/internet, car.

I live with my parents, have no student loans, car is paid off, don't put much on my credit card. Why not? This is the time to contribute! Once I move out, start paying rent, utilities, maybe find a woman, It's all downhill from there,

My employer gives me $0.40 for every dollar I contribute to my 401(k). I am on pace to contribute around 10K for 2012. My employer would give me around $4K.

That should lower my taxable income.

[Blu-Benny]

Originally Posted by Louisville Slugger

I live with my parents, have no student loans, car is paid off, don't put much on my credit card. Why not? This is the time to contribute! Once I move out, start paying rent, utilities, maybe find a woman, It's all downhill from there,

My employer gives me $0.40 for every dollar I contribute to my 401(k). I am on pace to contribute around 10K for 2012. My employer would give me around $4K.

That should lower my taxable income.

good for u man!!! living @ home is def. the time to do things like that....i bought and paid off a car in 3 years when i lived @ home.

i won't feel so bad about my 5% @ this point in my life....while i would like to put more in, i'll be content for now i guess.

[Louisville Slugger]

Originally Posted by Blu-Benny

good for u man!!! living @ home is def. the time to do things like that....i bought and paid off a car in 3 years when i lived @ home.

i won't feel so bad about my 5% @ this point in my life....while i would like to put more in, i'll be content for now i guess.

Hey 5% is better than 0%. Keep at it. As long as you are contributing.

[crxvtec]

I work in banquets and we dont get raises. We get gratuity which is very nice. I remember being able to put 15-20% into my 401k. I did that for about 5 years and had a pretty good match from hotel. That account is gone, with 4 kids(twins are expensive), 2 business ventures fail, and housing( phoenix area) going to shit, I am glad to be where I am now. 2012 is going to be a year of rebuilding, paying off debt and saving what we can. We are actually moving to an apartment tomorrow. Will be a tad tight with all of us.

[Wildfire]

I live in Australia and to be honest I don't really know much about the '401k' although I understand that it's basically a retirement fund. I'm curious about how it works in the states if anyone could tell me a little about it? We call it superannuation and it's compulsory for all employers to pay 9% minimum. I work in Government and my employer pays 15.4% OTE, on top of my annual salary, since I'm still pretty young I don't make any additional contributions myself...