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Home > First contribution using my new saving plan

First contribution using my new saving plan

July 7th, 2014 at 10:14 am

Yay! I received my first paycheck today, only for one day but I was able to make my deposits/contributions

• 10% to EF - $13.50
• 5% to IRA - $6.07
• 3% to CC4 - $3.46

I really want to keep up with this no matter what. How I see it, it's not much in the short- term but in the long run it will be well worth it.

Tomorrow I should be receiving my final check from Target for the few days I worked. I estimate that might be about $300.

Lastly, I'm going to need everyone's help once I sign up for the company's 401k, I'm not sure how to allocate my funds.

2 Responses to “First contribution using my new saving plan”

  1. just a thought Says:

    For your 401K, if you can get into one of those Lifecycle type funds, where they adjust the breakdown of stocks vs. bonds based on your target retirement date, that's an easy "set it and forget it" choice. Of course, you can always change it later, but that's a good choice to start.

    The most important thing is to get the contributions started ASAP, so making any choice is better than not starting at all!

  2. veronak Says:

    Thanks Just a Thought. I actually have an IRA that I contribute to weekly but my new employer offers a 401k and I have no idea how to allocate my investments. It's sad to say but I've always allocated funds based on the names that I recognized. But this time around I'd like to become more educated.

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