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I currently put 12% of my weekly pay into my 401k. How much will my paycheck change if I change it to 5%? I gross $622 a week.
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It seems it would be a difference of about $50 per week.
If your gross is $622, then the 7% difference is basically $44 per week. Plus, then assuming you are in the 15% marginal tax bracket, you would have an an extra $6 or so in taxes, so the total difference would be around $50 per week. -
Here is a
Link to Paycheck City (It defaults to AL, but you can use the drop down menu for your state)
if you want to do modeling based on your tax filing status (and state taxes).Comment
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