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The WealthCast presents:

How Much Should I Contribute to My 401K?

ORIGINALLY POSTED JUNE 15TH, 2021

This week’s podcast features co-owner, Jason MacGregor and financial advisor, Mark Landau. Mark is the head of the 401k division and works with successful individuals including business owners. This episode’s topic is 401k contribution. Our hosts speak about how much money should be contributed to your 401k and some ground rules for this contribution process. As this is a common topic, there are many questions surrounding the concept. Our hosts break down the processes around 401k contributions and provide helpful insight.

Show Notes

  • The current contribution rule for 2021. (01:30)
  • How much should you be putting in your 401k each year? (02:24)
  • “What does retirement look like for you at the end of the day?” (03:08)
  • Does your employer offer a company match to your 401k contributions? (04:36)
  • Advice to early savers, 20s and 30s and medium savers late 30s and 40s. (05:30)
  • Advice to late savers over 50 – playing a game of catch up. (05:50)
  • Roles of retirement have shifted. Statistics are alarming when it comes to this. We offer 401k education to help make this process easier. (07:00)
  • Auto escalation, a 401k feature many companies have. A recommended, adjustable tool that slowly increases your contribution. (08:00)
  • Alternatives if auto escalation is not a feature in your 401k. (08:53)
  • Income replacement during retirement. (10:55)

To learn more about this topic and to get advice from our team of experts, contact us at info@mmwealth.com or sign up for our newsletter.

Full Episode Guide