https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Wed, 20 May 2026 23:26:16 +0000 https://boards.hellobee.com/topic/dumb-question-1#post-1330986 Thu, 09 Jan 2014 12:25:11 +0000 littlek 1330986@https://boards.hellobee.com/ <p>@jedeve: I would say you are saving 4%. If I were you, I would make sure to contribute whatever percentage it takes to max out your 401k. </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330976 Thu, 09 Jan 2014 12:23:16 +0000 jedeve 1330976@https://boards.hellobee.com/ <p>I should also point out my entire office is women, as was the financial planner! </p> <p>Earning 80 cents to a man's dollar is a harsh reality, but you can't pretend like it's not happening, I suppose. </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330957 Thu, 09 Jan 2014 12:18:49 +0000 Freckles 1330957@https://boards.hellobee.com/ <p>@pui: Oh yeah i know. My rant was directed at the rule itself, not you. :) I've just been working on communication strategies to get our younger workforce to save more for retirement so i read a little more into the comment by the financial planner! I would hope that a financial planner would provide more personalized advice.</p> <p>@jedeve: I think it's a great plan that you have, especially if it works for your situation. Emergency funds are important too! </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330956 Thu, 09 Jan 2014 12:18:43 +0000 yoursilverlining 1330956@https://boards.hellobee.com/ <p>I think it’s fantastic that your financial planner made the “woman” comment. So many women (here and IRL) take a couple years off from the workforce when they have kids….well, one of the consequences of that will be you’ll have several years missed income for social security calculation purposes; most women are not making 401k payments while they SAH for a period of time so you miss out on that straight money plus the compounded investment growth. And women live longer on average, so you need to prepare for those extra years. Plus, the not so subtle income division between men and women. . . </p> <p>I would personally count it as 7%, but I also am putting $ towards other retirement vehicles so I am not uber-vigilant about my 401k. </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330950 Thu, 09 Jan 2014 12:13:38 +0000 MamaMoose 1330950@https://boards.hellobee.com/ <p>Here are some reasons why women need to save more to end up on equal footing in retirement:</p> <p><a href="http://fc.standardandpoors.com/sites/client/generic/axa/axa1/Article.vm?topic=5974&#038;siteContent=8014" rel="nofollow">http://fc.standardandpoors.com/sites/client/generic/axa/axa1/Article.vm?topic=5974&#038;siteContent=8014</a> </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330903 Thu, 09 Jan 2014 11:58:46 +0000 LuLu Mom 1330903@https://boards.hellobee.com/ <p>I say the total should be 10%, with the company match. Our financial planner said we both should be doing 10%, not sure what gender has to do with it! </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330850 Thu, 09 Jan 2014 11:38:59 +0000 Adira 1330850@https://boards.hellobee.com/ <p>@jedeve: I guess I can see the difference between men and women, but those percentages seem pretty arbitrary!</p> <p>But your plan is a good one! That's exactly what I did! I started off saving a certain amount and then each year when I got my merit increase, I put half of the increase towards my 401(k) savings! So I think increasing by 1% each year is a good goal! :) </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330846 Thu, 09 Jan 2014 11:35:43 +0000 pui 1330846@https://boards.hellobee.com/ <p>@Freckles: I'm not saying that 10% is perfect by itself without taking other things in to consideration, I was just trying to explain the "as a woman" part. </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330845 Thu, 09 Jan 2014 11:35:08 +0000 jedeve 1330845@https://boards.hellobee.com/ <p>FTR, I am planning on getting my contribution eventually up to 10-15%. I was just kinda curious how others viewed theirs and how "good" I could feel about myself, haha!</p> <p>But I'm enjoying the discussion! </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330836 Thu, 09 Jan 2014 11:32:25 +0000 jedeve 1330836@https://boards.hellobee.com/ <p>@Freckles: @Adira: She says men should save 8% and women 10%, because on average women are in the workforce a shorter time period, earn less, and live longer. </p> <p>My plan is to up my contribution by one percentage point a year. I only work half time, and with an unexpected pregnancy after just buying a house, cash on hand is important to us right now! </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330831 Thu, 09 Jan 2014 11:31:56 +0000 Mrs. Lemon-Lime 1330831@https://boards.hellobee.com/ <p>@MamaMoose: @Adira: agree.</p> <p>I look at my company match as free money. </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330828 Thu, 09 Jan 2014 11:30:56 +0000 Freckles 1330828@https://boards.hellobee.com/ <p>@pui: That's true, but I don't like these general 10% rules when you're not taking into other things into consideration (i.e., when you started saving, when you expect to retire, what type of pension plan you have if any, etc.). In general, people are living longer and starting their savings much later. </p> <p>Yes, you yourself are saving 4% but i would take the company's match into consideration when looking at your total savings. </p> <p>Sorry, didn't mean to hijack your thread! </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330827 Thu, 09 Jan 2014 11:30:52 +0000 Mrs. Pickle 1330827@https://boards.hellobee.com/ <p>I think you are saving 4%. I would pretend that the matching didn't exist and try to get to 10%. Then the extra is a bonus! </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330810 Thu, 09 Jan 2014 11:25:01 +0000 Mae 1330810@https://boards.hellobee.com/ <p>I would probably count it as 7%… but its not like this is law! In general putting away more is better than putting away less, but you have to balance savings and quality of life, and just periodically re-assess what you are able to do! </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330805 Thu, 09 Jan 2014 11:24:29 +0000 MamaMoose 1330805@https://boards.hellobee.com/ <p>I would say YOU are only saving 4% of your income. I would absolutely up your 401K contributions if possible, and/or also contribute to an individual retirement account if you're eligible. </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330801 Thu, 09 Jan 2014 11:24:06 +0000 Adira 1330801@https://boards.hellobee.com/ <p>I'm not positive what your financial planner is trying to say, but to be on the safe side, I'd save the 10% of your income yourself (so that would be 13% total with your company's match).</p> <p>Although I'm not really sure where your planner is coming up with that percentage. What does being a woman have to do with it? And is that an across-the-board 10% or is that specific to YOU and how much YOU make?? For me, I don't feel like saving 10% would be enough, though for some people making more than me, 10% would probably be plenty! </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330798 Thu, 09 Jan 2014 11:23:04 +0000 pui 1330798@https://boards.hellobee.com/ <p>@Freckles: Probably because women on average live longer than men do? That's my best guess. </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330790 Thu, 09 Jan 2014 11:22:19 +0000 Freckles 1330790@https://boards.hellobee.com/ <p>@jedeve: I would count the company match as part of your savings. And what the heck does, "as a woman" mean? </p> https://boards.hellobee.com/topic/dumb-question-1#post-1330780 Thu, 09 Jan 2014 11:19:49 +0000 jedeve 1330780@https://boards.hellobee.com/ <p>Our office's financial planner says you should save, as a woman, 10% of your income for retirement.</p> <p>Here is my dumb question - </p> <p>We have a 3% match. I currently put in 4%. So does that count as 4% of my income, or 7%? </p>