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How Much Should I Put in My 401K?

This question was shared by member elisabeth in our Ask Savvvy? group.

I know you should try to max out your 401K each year, but I don't make enough to put in the max. I have been out of a college for a few years and feel like I should start contributing as I have a good job and have been able to save quite a bit of money as my rainy day cushion. But I want to retire in 30-40 years — hopefully! It seems so far away, but I know the sooner you start the better. What is a good percentage to put away and how much does the average recent college graduate contribute?

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