I got a raise!

[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.