Running numbers during raise time

[engineerjourney]

My company only does raises once a year in July.  Its so awesome to run the numbers after getting a raise and realize I needed to DECREASE my 401K contribution percentage so I wouldn't hit the max too soon (my company wont match unless you contribute).  The same showed true for my DH's percentage too.  Before MMM I would run the numbers to increase my 401K contribution 1-2% to keep my take home about the same, what a difference a couple years make!!  Anyone else enjoy running the numbers after a raise and finding the same? :-)   

[NotJen]

No.  My company allows us to set a dollar amount instead of a percentage, so I shouldn't have to change anything until the 401k contribution limit is raised.  Or if there aren't 26 pay periods in the year.

Raises are certainly less exciting for me these days.

[engineerjourney]

That's awesome NotJen that you get to set the dollar amount instead of percentage.  I wonder how common that is?  It would make it a lot easier to hit the max at the right time.  But I can also see how that could make things a little boring!  No need to look at your contribution rate more than once I year I would think!  I have to do it several times a year to try to get the max right at the last paycheck, haha.

[rockstache]

Yup! Ours is percentage too and only whole number percentages, so it is always very off. I like doing it, and I love seeing the paycheck bump up as a result. We then use that bump to invest further...obviously.

[forummm]

Mine allows set dollar amounts per paycheck.

Congrats on the raise!

[mm1970]

My company only does raises once a year in July.  Its so awesome to run the numbers after getting a raise and realize I needed to DECREASE my 401K contribution percentage so I wouldn't hit the max too soon (my company wont match unless you contribute).  The same showed true for my DH's percentage too.  Before MMM I would run the numbers to increase my 401K contribution 1-2% to keep my take home about the same, what a difference a couple years make!!  Anyone else enjoy running the numbers after a raise and finding the same? :-)

What's a raise?

For that matter, what's a match?

I was working PT a few years ago when I had baby #2.  I increased my % withholding for 401k so I could max out at $17k, or whatever it was back then.  I never changed it, so I hit the max in October or November now.

[BudgetSlasher]

That's awesome NotJen that you get to set the dollar amount instead of percentage.  I wonder how common that is?  It would make it a lot easier to hit the max at the right time.  But I can also see how that could make things a little boring!  No need to look at your contribution rate more than once I year I would think!  I have to do it several times a year to try to get the max right at the last paycheck, haha.

Our's also sets contributions by dollar amount per pay cycle. . . but only whole dollar; which leaves an 8 dollar rounding shortfall at the end of the year hit the max . . .

[PhysicianOnFIRE]

Mine won't accept new money once you hit the max. I can leave the contribution percentage alone, which is nice.

I think my 457(b) is set to 65%, and I was done contributing in February.