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401k/403b Fun

I remember when I first started working and received all my 403b information and started contributing like 0.5% of my salary.  I mean it may have been 1%, but you get the idea.  I was making such a small amount of money, I couldn't imagine paying my bills and contributing any more than that.

Second job, I switched over to a 401k and maybe contributed 3%.

Fast forward to a few weeks ago.  We had a lunch and learn at work and someone from our 401k company came in to provide new information and guide us through their new website.  My current company matches an almost unprecedented 7% so when I started work I knew I needed to take advantage and try to make up for lost time.  I'm also making more now than I have at my previous jobs.  I like to think this means I can, but really I should have made myself contribute more all along.  

So here I am now contributing 12%.  12%!  And I did their will you be ready to retire quiz and I got a 75 (out of 100).  They really want you to be at 80, at least.  While, yes, this is good.  I cannot imagine contributing more than 12% right now to make it up to where I need to be.

My point in this PSA/rant is if you are young and just entering the workforce, contribute more than you think you can and make it work!  It's hard to catch up after a few years.

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