Retirement Targets
- Thread starter yowza
- Start date
Yeah a few guys getting ready to retire in the next few years with a couple million saved up over the years here. I figure adding just 6% into the 401k they offer alongside should be golden in about 30 years.
That's... insane. How can a company afford that? Do they reduce other benefits? Or did they find out how to print money?
Its cheaper to pay in 401k match than salary. No FICA or tax withholding. So you give all the cash out, instead of like 60% after tax.
We do a big (6 figure) profit share bonus every year, split amongst our 20ish employees. But nowhere near 25%!
We have full health/dental/vision insurance with employer paid premiums. Basically only pay Co-pays out of pocket.
Just want to add that my employer is at a 50% contribution level.. which I’ve never heard of before. Crazy that companies can offer that..
Nope, we actually even have some of the highest wages in the area for our industry.
50% of your salary (unheard of), or 50% of your contributions (standard practice)?
Just making sure we are all talking apples to apples...
Ooooh, y'all were talking about 25% or 50% of the employee's contribution? I thought y'all meant salary.
No I get 25% of salary into retirement, company offers 401k alongside that, but doesn't match anything there.
