When working on my numbers, now working on Dave Ramsey’s Baby Step 4, 5, & 6, I have learned I need to put 15% of my income in retirement. I’m putting 4% right now into my company’s matching IRA. Looking at my monthly salary gross, 15% of my gross income would be $910.
$910 – $303 that is already being drafted, I’ll need to put $607 into my Roth for this month. There is a cap of $6000 per year allowed into a Roth account. Until my 2021 $6000 cap is reached, I’m planning to put $607 into it each month.
