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Jill on Money with Jill Schlesinger

Should I Adjust Retirement Contributions?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.61.8K Ratings

🗓️ 16 January 2021

⏱️ 13 minutes

🧾️ Download transcript

Summary

The start of a new year is the perfect time to take a look at your retirement plan and see if there's any adjustments you should be making. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Jill on Money Podcast. It is Saturday, January 16th and we are changing format.

0:10.7

All right, not forever. What we're doing is we got inundated, I mean inundated

0:16.2

and slammed with emails and questions. And so Mark's like, okay, I know we've had these great interviews in the can with really interesting people, but we have got to get through some more of the questions that are being asked of us.

0:30.5

And so therefore, for this weekend weekend we're actually doing calls because why we want to hear your

0:37.8

voices and if you would like to come on the air with us all you have to do is send an

0:42.0

email same old same old ask Jill at

0:44.6

Jill on money.com and tell us I want to come on the show with you mark does the

0:50.6

rest it's fantastic and that is what Anthony did. He is on the line from Arkansas.

0:56.7

Hello, Anthony. Welcome to Jill on Money. What can I do for you, sir?

1:01.3

Well, first of all, thank you for having me.

1:03.4

I have a couple of questions regarding

1:07.0

some of the moves that I'm making in my retirement.

1:10.2

When I initially started my job I was informed that there was a for our four three being I was informed that there was a 6% mandatory contribution.

1:24.9

However, my employer would match up to $10% dollar for dollar.

1:30.6

Wow, dollar for dollar?

1:32.3

Holy moly. So I did the responsible thing and I said okay I'm

1:36.8

going to contribute up to the match. And I've also just over the years been doing a little bit extra as well.

1:46.0

And currently what I'm doing is the 10% in order to get what I thought was the match.

1:53.0

And then there's also a Roth 403B option,

1:58.0

and I throw another 3% there as well.

2:01.0

Okay, so 10% into the pretax, 3% into the Roth.

2:05.1

Yes.

...

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