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How much Money do you have Saved???

Contributor

Re: How much Money do you have Saved???


shalane85 wrote:

 

401k: $226 Smiley Sad  I am funding this myself since my employer does not offer matching

 

 


I though that every employer is obligated to pay 3% of the salary to 401K. Matching personal contributions is something like an extra bonus. Am I wrong?


FICO 08: EQ745, EX736, TU756 (Mar'17)

CC: AmEx BCE, AmEx EDP, BankAmericard, 3xMLB, MERRILL+, Chase freedom, CSP, Citi DC, Discover it, Sallie Mae, Barclays Cashforward, Choice Privileges, US FlexPerks, HSBC Platinum Reward, 1 retail
10/24, AAoA 1y4mo, Util ~0-5%, TCL 140k

Message 91 of 172
Regular Contributor

Re: How much Money do you have Saved???

Maybe for corporations.. But I work for a small (2) location day spa and besides paying me 50% commission the owner don't pay me anything as a bonus".. When I worked for Aflac, I got matched 401K,.. But not anymore.. I'm actually thinking about working part time at Publix for extra income & benefits.






Starting Score: 524
Current Score:672-709
Goal Score:800

WellsFargo $2700 - NF Rewards Visa Signature $5000 - NF Rewards $3200 - Barclay $5500 - Walmart $3500- Sleep center $2000 - Cap One Quick Silver $4500 - Khols $300- HHGreggs $3000 - NFCU Checking Line $15,000 - Chase Sapphire Preferred $5000
Message 92 of 172
Frequent Contributor

Re: How much Money do you have Saved???

I do work for a growing Healthcare firm, but they are not currently offering matching into our employer sponsored 401k.
-------------------------------------------------------------------------------------------------Fico Score Range 600-625 across the board
Message 93 of 172
Contributor

Re: How much Money do you have Saved???

 


FICO 08: EQ745, EX736, TU756 (Mar'17)

CC: AmEx BCE, AmEx EDP, BankAmericard, 3xMLB, MERRILL+, Chase freedom, CSP, Citi DC, Discover it, Sallie Mae, Barclays Cashforward, Choice Privileges, US FlexPerks, HSBC Platinum Reward, 1 retail
10/24, AAoA 1y4mo, Util ~0-5%, TCL 140k

Message 94 of 172
Contributor

Re: How much Money do you have Saved???


shalane85 wrote:
I do work for a growing Healthcare firm, but they are not currently offering matching into our employer sponsored 401k.

Is your employer sponsored 401k 100% vested?


FICO 08: EQ745, EX736, TU756 (Mar'17)

CC: AmEx BCE, AmEx EDP, BankAmericard, 3xMLB, MERRILL+, Chase freedom, CSP, Citi DC, Discover it, Sallie Mae, Barclays Cashforward, Choice Privileges, US FlexPerks, HSBC Platinum Reward, 1 retail
10/24, AAoA 1y4mo, Util ~0-5%, TCL 140k

Message 95 of 172
Frequent Contributor

Re: How much Money do you have Saved???

The 401k is 100% vested.
-------------------------------------------------------------------------------------------------Fico Score Range 600-625 across the board
Message 96 of 172
Established Contributor

Re: How much Money do you have Saved???

Lol yes. I was being lazy
Message 97 of 172
Established Contributor

Re: How much Money do you have Saved???


Mamontov wrote:

I though that every employer is obligated to pay 3% of the salary to 401K. Matching personal contributions is something like an extra bonus. Am I wrong?


That's be nice.... but unfortunately, you are in fact wrong.

 

Perhaps you are thinking of many auto-enroll 401k plans that start employees at a 3% contribution rate, and match that 3%?

 

 

EQ8:844 TU8:845 EX8:850 (MyFico) - 2017-10-16
Message 98 of 172
Valued Contributor

Re: How much Money do you have Saved???

18.5k, self employed. I've only been saving since December.
Message 99 of 172
Frequent Contributor

Re: How much Money do you have Saved???

If you're self-employed, you can contribute as much as 25% of your net income or $53,000 a year (whichever is less) into a SEP.
Message 100 of 172