Bella Dea wrote:The company will match 50% up to 6%. I can't do 12% right now.
I was just wondering what the norm is....
I think I will start with 5%. I can add or subtract if I want to. I need to see how this will affect me.
There is no norm. The only rule of thumb is to max out to the company match. That is a no-brainer.
The other is to put in as much as you can. You need to look at your entire financial picture. For instance if someone was saddled with 20k in 23% APR credit card debt, it would be pretty stupid to sock away 20% in your 401k.
I thought the question was about what investment vehicle to put it in. my mentor, Bob Brinker, bobbrinker.com, would tell you to put it in a money market until you learn how to be your own "broker."
If you are interested in becoming financially astute, start educating yourself by reading. Bob Brinker has a great recommended reading list, vanguard.com has some great tutorials as well. A couple great books come to mind, A Random Walk Down Wall Street, Extarordinary Delusions and the Madness of Crowds and anything by Vanguard founder John Bogle. Oh and when you leave, take your 401k with you. Roll it into an IRA. (Vanguard is the besy IMNSHO)
