Comments on: Dave Ramsey’s Step #4: A Visual Guide to Saving 15% for Retirement in a Roth 401(k) http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/ Money Management and Personal Finance | The Dough Roller Sat, 21 Nov 2009 12:03:21 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: * Dave Ramsey’s Baby Steps Explained http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-11779 * Dave Ramsey’s Baby Steps Explained Wed, 08 Apr 2009 02:06:37 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-11779 [...] is the next best thing.Here are a few articles that discuss Baby Step 4 Baby Step 4 at Dave RamseyDave Ramsey’s Step #4: A Visual Guide to Saving 15% for Retirement in a Roth 401(k) at The Dough RollerPersonal Finance 101 - Saving For Retirement at Simple MomDave Ramsey’s 7 Baby [...] [...] is the next best thing.Here are a few articles that discuss Baby Step 4 Baby Step 4 at Dave RamseyDave Ramsey’s Step #4: A Visual Guide to Saving 15% for Retirement in a Roth 401(k) at The Dough RollerPersonal Finance 101 – Saving For Retirement at Simple MomDave Ramsey’s 7 Baby [...]

]]> By: DR http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-9283 DR Sat, 13 Sep 2008 11:55:34 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-9283 Susan, your contribution limitation is $15,500, and the company match is on top of that. So combined, you could be saving more than $25,000 a year if your company matches dollar for dollar. Note that because of IRS regulations, they won't match all the way up to $15,500; I think it stops between $12,000 and $13,000. Also, where I work, all matching contributions are to the traditional 401k, regardless of whether I contribute to the Roth 401k. I'm not sure if that's how it works everywhere, but your HR folks could answer that question for you. Best of luck! Susan, your contribution limitation is $15,500, and the company match is on top of that. So combined, you could be saving more than $25,000 a year if your company matches dollar for dollar. Note that because of IRS regulations, they won’t match all the way up to $15,500; I think it stops between $12,000 and $13,000. Also, where I work, all matching contributions are to the traditional 401k, regardless of whether I contribute to the Roth 401k. I’m not sure if that’s how it works everywhere, but your HR folks could answer that question for you. Best of luck!

]]> By: Susan http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-9266 Susan Fri, 12 Sep 2008 14:49:33 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-9266 Hello. I am understanding that that the max annual contribution for 401K is now $15,500. And that is a combination of both the company match and my contribution, correct? But the 15% of overall savings includes the 401K, Roth IRA and savings accounts? If the company match can only go into a traditional 401K, can I put my contribution into a Roth 401K? Or does it all need to be in the same type of 401K, still with a max ann contrib of $15,500 total? Thank you for the help. Hello.
I am understanding that that the max annual contribution for 401K is now $15,500. And that is a combination of both the company match and my contribution, correct?
But the 15% of overall savings includes the 401K, Roth IRA and savings accounts?
If the company match can only go into a traditional 401K, can I put my contribution into a Roth 401K? Or does it all need to be in the same type of 401K, still with a max ann contrib of $15,500
total?
Thank you for the help.

]]> By: Should You Tithe When Times are Hard? http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-8907 Should You Tithe When Times are Hard? Mon, 11 Aug 2008 14:42:47 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-8907 [...] all debt using a debt snowball, save 3 to 6 months living expenses (fully funded emergency fund), invest 15% of household income in retirement funds, create a college fund for your children, pay your home off early, build wealth and give. The last [...] [...] all debt using a debt snowball, save 3 to 6 months living expenses (fully funded emergency fund), invest 15% of household income in retirement funds, create a college fund for your children, pay your home off early, build wealth and give. The last [...]

]]> By: Dave Ramsey Baby Step 1 $1000 Emergency Fund http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-7688 Dave Ramsey Baby Step 1 $1000 Emergency Fund Wed, 25 Jun 2008 22:07:40 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-7688 [...] 4 - Invest 15% of household income into Roth IRAs and pre-tax retirement at The Dough [...] [...] 4 – Invest 15% of household income into Roth IRAs and pre-tax retirement at The Dough [...]

]]> By: How to Get a Payday Loan (if you must) | Smarter Money Management http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-7577 How to Get a Payday Loan (if you must) | Smarter Money Management Thu, 12 Jun 2008 11:48:08 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-7577 [...] 4: Invest 15% of household income into Roth IRAs and pre-tax retirement - The Dough [...] [...] 4: Invest 15% of household income into Roth IRAs and pre-tax retirement – The Dough [...]

]]> By: 10 fun and frugal Father's Day gifts - Smart Spending http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-7516 10 fun and frugal Father's Day gifts - Smart Spending Wed, 04 Jun 2008 12:31:03 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-7516 [...] "Dave Ramsey's Step No. 4: A visual guide to saving 15% for retirement in a Roth 401(k)" [...] [...] “Dave Ramsey’s Step No. 4: A visual guide to saving 15% for retirement in a Roth 401(k)” [...]

]]> By: bethh http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-6721 bethh Wed, 19 Mar 2008 18:57:53 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-6721 Here's my situation: I'm investing 16% pretax into a regular 401(k) so I can get the 4% company match. I don't have any more retirement investing money left over, and I don't have access to a Roth 401(k). Is that 4% match worth it? Or would I be better off vastly lowering the contributions to the employer plan, losing some of the free money, and maxing out the Roth IRA contributing? I know there are no guarantees, but it's an interesting puzzle I haven't seen explored elsewhere. Here’s my situation: I’m investing 16% pretax into a regular 401(k) so I can get the 4% company match.

I don’t have any more retirement investing money left over, and I don’t have access to a Roth 401(k). Is that 4% match worth it? Or would I be better off vastly lowering the contributions to the employer plan, losing some of the free money, and maxing out the Roth IRA contributing?

I know there are no guarantees, but it’s an interesting puzzle I haven’t seen explored elsewhere.

]]> By: DR http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-6688 DR Tue, 18 Mar 2008 02:00:58 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-6688 Dave Ramsey's approach is to view the company match as gravy. The theory is that you could change jobs and work for an employer that doesn't match 401(k) contributions. But there is no "right" or "wrong" answer here. The more you save, the more you have. Dave Ramsey’s approach is to view the company match as gravy. The theory is that you could change jobs and work for an employer that doesn’t match 401(k) contributions. But there is no “right” or “wrong” answer here. The more you save, the more you have.

]]> By: Karla (threadbndr) http://www.doughroller.net/retirement-planning/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/comment-page-1/#comment-6686 Karla (threadbndr) Mon, 17 Mar 2008 20:33:27 +0000 http://www.doughroller.net/2008/03/03/dave-ramseys-step-4-a-visual-guide-to-saving-15-for-retirement-in-a-roth-401k/#comment-6686 Quick question - does the 15% include the company match, or is the company match just gravy on top of 15% from your pocket? Quick question – does the 15% include the company match, or is the company match just gravy on top of 15% from your pocket?

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