How much(percent) doe employees typically put into their 401K during every pay period

In two weeks, my employer Ace Hardware is going to have 401K sign-ups at work. What's the typically percent that employees who work 32-40 hours a week that they put into their 401K? My employer will match everything over 4% into our 401K's. I also think that the company Mass Mutual might be doing something as well. Can anyone shed on light on what I should do with this? To complicate things as well, I already have a previous 401K from this same employer.I have not touched although I am worried a lot about due the mess of Wall Street and it's huge bailout .

 

I think people choose a percentage they feel they can live without in the name of retirement.

 

awcguy is right, I started out at 2% because I didn't think that I could put the full 4% in. I intend on raising it 1% with every raise I get (I recently raised it to 3%). I would recommend putting in as much as you can. If you think you can do the full 4% then go for it. The more money going into your retirement the better. I work with others who put in the max which is like 15%. Although the company will only match up to 4%, the more money you can set aside for later on the better you are going to be.

 

Max out your 401(k) up to your employers match. If they are offering you 100% matching on 4% of your salary, put in 4%. Don't even think twice about it, just do it. A good rule of thumb, you won't see much of any impact to your take home pay if you invest 3%, as that money comes out prior to taxes. Remember, you are basically getting a pay raise when you invest in your 401(k) with employer matching.