> The general guideline isn't to put 15% into a Roth IRA -- it's to save 15% for retirement overall. Your 401k contributions would count for this.
Ahhh. I was pretty slow understanding this. Ok, this had cleared it up for me a bit I think. It's just the total savings % that needs to equal 15% for retirement. Idk why I was so slow at understanding this.
Going to try and get this one more time using my real numbers. Just want to make sure I understand this properly.
- Let's say I roughly make $130k a year.
- Looking to meet 15% general savings goal.
- Company offers 401k plan that I choose to fully match (6%). I'm currently at 12% savings.
- After taxes, my biweekly paycheck is roughly $3800. 3% to meet 15% goal. I can just put $114 into my Roth IRA biweekly correct? After a year I would only have roughly $2900 in my Roth IRA, so I didn't hit the $6k goal?