Originally Posted by EvrClrx311
I contribute 6%, company matches 5%, company contributes 9.5% profit sharing. In years I don't go over the ROTH max, I'll put another $5,000 in there. So I'm at approximately 24-25% of my gross income.
You count your company match and profit sharing as part of your saving?
I guess I look at that as something that they can take away from me - so I max out what *I* can save. (27% of gross). What the company provides is nice - but I have no control over it - and it can go away.
But then again - my employer of 18 years has
- changed the match percentage multiple times,
- eliminated the profit sharing contributions,
- froze the old defined benefit pension,
- then later froze the replacement defined contribution pension.
- Refined (reduced) the bonus formulas.
- Eliminated the stock purchase plan, etc.
And with another corporate merger/spinoff looming, I'm sure there will be more adjustments to the company provided portion of my retirement savings. I've been to this rodeo enough times to know that change is NEVER in the employee's favor.