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We are currently giving $600 ($300 each) a month to our Roth IRAs.
My wife also contributes roughly $100 to her 401k match at her work and I give $973.06 a month to STRS (Teacher pension… this is automatically taken out with no choice on our end).
Combining all of this we are contributing 1673.06 (22.6% of total income). Would you view this as meeting the 15% rule?
I know it sounds weird, but it doesn’t feel like we are since a large portion of it is taken out automatically through a pension fund and just not sure if we need to do more.
Thanks in advance for any tips/advice!
NateI remember dave saying if it’s a mandatory contribution then count it at half it’s value. so of $973.06 is actually 10% , count it as 5%, because it’s in an account out of your control of its performance and what its invested in etc. So outside of the STRS, you’d then need to do 10% of your own investing
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