When you complete OctaveWealth's guided enrollment wizard, our Retirement Planner recommends a contribution amount based on your specific circumstances, taking into consideration:
Your age
Tax bracket
Current income
Expected Social Security benefits
Other income, assets, or savings
Desired retirement age
Desired retirement income
However, this is just a recommendation. You have the option to choose any amount you wish to contribute.
You can also start at a rate that matches your comfort level and goals. If circumstances change, you can increase or decrease your contribution rate at any time.
Our Retirement Planner is a powerful financial planning tool that is built-in to your OctaveWealth account to give you the information you need and make it easier to decide how much to contribute to your 401(k).