Dave Ramsey suggests that 15% of household income should be invested in retirement. My wife and I will make a pre-tax, pre-health care, pre-withholdings (gross) combined salary of about $80K in 2007. (This salary includes my job, her job, and the income that I hope to make from my various web sites. 15% of our gross salary would be $12,000. My wife already contributes 5% of her gross salary to a pension plan at work (mandatory). The easiest thing for us to do is to simply use my 403b for all other retirement contributions. We have decided to “ignore” the 5% she is already contributing, and to contribute a full 15% into my account. So, my retirement contribution for 2007 will be $12,000, or $1000.00 per month. Thanks for all of the suggestions and comments about my previous posts. I really like the new site design, and I like the freedom of having control over my own domain. Sorry for any “link-inconvenience” you might be experiencing. Hopefully the search function at the top-right will help you find what you are looking for.
Resources related to the post:
Bankrate.com Retirement Contribution Limits
