30% Pretax Savings
Last month I decided to bump my 401K contribution up to 30%. This change took place in my last pay check 2 weeks ago. And you know what? It wasn’t so bad. Getting promoted certainly help since my bump in my salary may have eased the pain a bit. This was good timing since I fully funded my emergency fund at the time of my promotion and I was going to contribute this amount regardless if I was getting promoted or not. In reality, a savings of 30% a pay check translated to only a decrease of $300 of my initial take home from last month. This will also decrease my taxable income for next tax season so I don’t give the government more than they deserve of my hard-earned money. Unfortunately, they cap the total amount of pretax dollars you can put in your 401K to $15K per year. I’m guessing they will stop me from my 30% savings by time Christmas roles around. This would be great timing since I’ll have extra cash for presents! It’ll be like a bonus every holiday season. 
I’m also not strapped for cash these days. I actually have a good amount of pocket change that is more than enough for a typical week’s miscellaneous expenditures.
Next step, buy investment properties…
