How much should I contribute to my 401k each month?

The general rule of thumb is to contribute at least enough to get your employer's full match, since that's essentially free money. Beyond that, most financial advisors recommend saving 10-15% of your gross income for retirement total across all accounts. The specific dollar amount depends on your age, income, expenses, and retirement goals. If you're younger, even small contributions compound significantly over time. The 2024 IRS contribution limit is $23,000 per year, or $30,500 if you're 50 or older. A common starting point is 6% of your salary if your employer matches that amount, then increase contributions by 1% each year as your income grows until you hit your target savings rate.