Shortcut Navigation:

Question for the Money Doctors

Question submitted on Oct 20, 2012.

Question

What is a good amount to put aside after one gets paid?

Answer

Using a company 401k is the best and easiest way to save for thye long term.  When you participate in a company retirement plan, your employer takes the money out of your check typically before taxes, And once you get start, you will not miss the money.  It is a great habit to get into.  I suggest you shoot to save 10% of each paycheck.  Remember though that that money is for retirement and should not be used for any other purpose.  Good luck!


For additional information visit http://www.360financialliteracy.org/