How much to put in my 401k/retirement plan? That is a question almost everyone who has a job thinks about from time to time. There are better ways to get to a decision than taking advice from a TV personality, your company match, or a co-worker. I think one factor in your decision making process should be the following:
Take the number 60 - (Your Age). Then decide am I okay giving up the freedom, control, and use of this money for this many years or more (could be more according to your plan document or if the government changes the rules).
If you have a 401k or similar retirement program at your work just remember these plans make it easy to put in your hard earned money. Remember once your money is there it is very difficult or maybe even impossible to get it out. You have to follow not only the current government rules, but also the company's 401k rules as well.
So before you put your hard earned money in your company 401k know the rules. Also, be open to other alternatives outside of government sponsored plans that might be of more benefit to you and your family.