Originally Posted by
AimHigh1
Anyone able to assist with the 401K?
There's two options on the website; "Start Easy Enroll and Start Standard Enroll".. Easy Enroll gives me the option for 8%, 10% and 12%. Standard Enroll seems to be a bit more complex.
Starting Jan 1 2018 the company will match 100% of 3%.. So I would think I should put in 6% but there isn't an option for 6%.
Thanks!
Doesn't make much difference. You're just trying to turn it on now, once you've got a fidelity login you can change the contribution amount every week if you'd like. In my experience the changes take effect on the next paycheck (if it's not tomorrow) but I think their documentation say 1-2 paychecks.
Also I believe to capture the full match you'd only have to do 3% as it is 3% on 3% however if you look long term, 15% is a much more reasonable level to have enough money to retire on.
Unfortunately a lot of people get caught up in the match and think that's how much they should save.
The sooner you start saving, the more money it's worth at retirement, so do the 15% as early as you can. You won't miss it.