Caught 401(k) over-contribution too late I know, late to the taxes party. Beyond normal procrastination, I was a bit scattered getting all the information for insurance, income, etc over the several jobs I’ve had the past year. I hadn’t been keeping tabs on my 401(k) contributions of my most recent employer and when I finally went through filling, TurboTax noticed I had over contribut…

Wife Leaving School District, What to Do With 401(a)? Hello, My (28M) wife (33F) will be leaving her teaching position at the end of the school year (August 2024). She’s employed in the State of Wisconsin, and as such, has been contributing to the state-sponsored Wisconsin Employee Trust Fund 401(a) for the duration of her employment. Neither my wife nor I are terribly familiar with the ins and ou…

Company doesn’t offer 401(k), besides IRA, how can I save for retirement? As the title states, my company currently doesn’t offer a 401(k). We are a smaller manufacturing company that is still in its rapid growth phase. I do own about 3% of my company so I do expect a return at the time of sale, IPO, or stock sale, but the investment is currently not liquid (SAFE agreement, shares have not been issued yet). I max my …

Why Putting More in a 401(k) Can Now Increase Your College Financial Aid The Free Application for Federal Student Aid (FAFSA) determines your eligibility for need-based financial aid for college. In previous years, the FAFSA asked families about the amount they contributed to employer-sponsored retirement accounts like 401(k)s each year, and factored it into households’ overall yearly… Read more…

Help deciding between 401(a) and government 457b New government job, they take an automatic percentage (around 8%) per check for a pension and match that. On top of that, they offer the option for a 401a and pre tax 457b. However, they don’t contribute to either. I only have 90 days to decide a percentage for the 401a, or if I want to contribute at all. After that, it’s locked permanently. Th…

Ex-employer not informing 401-K Financial form that I have quit A year after resigning, I contacted the financial firm (Fidelity) that had my 401-K, and asked them to rollover the money to an IRA. But, they said that my company had not yet informed them that my employment had been terminated. I emailed the one HR contact I knew, but received no answer. Then, I contacted an ex manager who said he’d help pass…

401 k what else can I do to save for retirement So I currently work with the state (CA) . I have a 457. What’s other ways to start saving for retirement. 401k? I also have a pension submitted by /u/Padilla24

Rolling over 401 to Roth IRA Suggestions on what to do – from what I’ve seen, Roth IRAs are a longterm better investment than 401ks, so I’m considering rolling over part of my 401k into a Roth IRA 401K is Principal, isn’t doing too well. Balance – $11,000 Contribution – 10% split between me and employer Age 26 Income – $55kish + babysitting I live in a HCOL area, have stude…

Should I still contribute to 401(k) if no employer contribution until after 1 Year I’m starting a new position soon and have the option to contribute to a 401(k) with the company but the employer doesn’t have any contribution until I complete my first year of employment. I have never contributed to any 401(k) plan in the past with an employer. Is it still worth it to contribute to the 401(k) during this first year or am I bet…

I need help understanding my employer’s 401 terms Just started a new job this recent monday. I’m 20 and I landed a entry level government position as a CSR paying $18 (hopefully get promoted to the IT department which pays $22). I’m applying for my electives and benefits right now but the 401K terms kinda confuse me. I’ve never had a company offer 401K prior so this is all new to me. It states …

Rollover to Roth 401(k) or Roth IRA This situation is really bugging me.. I had a Roth 403(b) with a previously employer that I didn’t touch when I left ~6 years ago. I would like to finally roll it over. I currently have a Roth 401(k) with Vanguard through my current company. Initial plan was to open a Roth IRA with Vanguard and roll the Roth 403(b) funds and employer contributio…

Does it ever make sense to contribute less to 401(k) to save up for a large purchase, like a house? Hi everyone, just trying to plan out my future haha. I’m 26, no debt (just paid off all my student loans and don’t carry CC debt). Currently, my savings/retirement funds look like: $40,000 in HYSA (which is ~8 month’s worth of expenses, including any bills + discretionary money + $500/month contributions to HYSA) $40,000 in 401(k) – I contribut…

New to 401(K), need advice. Hi, I just started contributing to my 401(K), and as the year is close to an end I plan to contribute 65% of my paycheck until the end of this year to max out the $22,500 limit. Currently, my employer contribution is 0 (Which will change over a period of 5 years and become 1:1 at the end of the 4th year, but highly unlikely that I will be here f…

Stopping 401(k) — am I on the right track? Retiring in 15 years. I have been maxing out my 401(k) since started working. Currently have $500k saved in my 401(k). Have no debt. Mortgage will be paid off by my retirement. Small pension will pay me $1500 per month + social security. My spouse has similar amount in her 401(k), plus her pension will pay her $12K per month (school administrato…

24 with solid income, weighing borrowing from 401(k) to pay a specific student loan So as the title says, I am 24 years old and have about $39k saved in my Roth 401(k) which is fully vested plus a very modest ~$1500 Roth IRA. I have around $38k in student loans which I have been saving money to pay off after graduating and using to invest rather than pay during the subsequent interest/payment pause since 2020. This includes 11 …

Growth of 401(k) from Point in Time Long story short – I’m getting divorced. I’m trying to measure how much of my current 401(k) balance are from assets that predate the marriage. So the growth including dividend reinvestments but not including future contributions. I’m having a hard time finding a good source for the return rate on the investments in that account during specific …

Should I pause my personal 401(k) contributions to pay off student loans? Hey all! My company puts in 6% of my salary (100k) into my 401(k) regardless of what I put in. Do you think it’s a good idea to set my contribution to 0% for the time being so that I can focus on paying off my student loans in 2-3 years? My student loan balance is $32k and interest will be 5.005%. If I set my 401(k) contribution to 0%, I will b…

I’ve had a part-time job for a few months now and Fidelity shows that I’m eligible for 401(k)… I thought part-time jobs weren’t even eligible for a 401(k). Upon googling it, I see something about a recent law passed saying one must work 1000 hrs in a year OR 500 hrs over 3 years to be eligible. I’ve been at this job for a few months now, somehow even earning PTO lol. I brought up the 401(k) option showing up on my fidelity app (where I al…