Ask Terry Questions College student — How Much to Put into 403(b) from part-time job

College student — How Much to Put into 403(b) from part-time job

By Terry Savage on July 27, 2017 | Investments

Dear Terry, I recently started a new job that offers a retirement (403b). I am 19 years old going to college so I only work part time. My paychecks are usually less than $400 How much should I be putting into my retirement each paycheck? I get paid bi-weekly.

Terry Says

I have a very simple answer for you.  Take a look at your paycheck.  See the little box marked FICA?  That's Social Security.  They're taking a nice hunk out of each paycheck for social security taxes.  Try to match the same amount and put it into your 403(b) account.  You'll never see much from Social Security down the road, but you WILL get a nice return on your own investments!

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