Roth 401k and the Rule of 55 submitted by /u/PoliPino1977

For the recommended 15% towards a 401k, does that include the employer’s match, or is that strictly what I should be putting in? Basically the title. My company matches 5%. So for the recommended 10-15% from what I’ve read (that’s kind of a big chunk, is it really that high?), do I put in 10%, company matches 5%, and the “total” comes to 15%? Or is that 15% purely on me putting that in? submitted by /u/Trick-Day-480

ESPP vs 401k – which is better to max out? Or do both? This year I maxed out my ESPP and I survived. But I’m wondering if it would have been better to max out my 401k. Right now I only put in 4% to my 401k because that’s is how much my company matches. I’m really excited that I maxed the 401k out just wondering what my next money move should be. I am in a VHCOL area I would buy a house but it’s just…

401K employer match from previous year? I messed up thinking I contributed a substantial amount to my 401K when in reality it was very little (like 1%). Can I contribute more to my 401K from last year and ask my employer to match it? Or is it too late? submitted by /u/Educational-Task-313

Are people really maxing out their 401k?? I see the advice so often “max out your 401k” and then all the other typical advice, paying high interest debts, budgeting, etc in no particular order here. To max out a 401k in 2024 the limit is $23,000. Are y’all really making enough that you can take $23,000 out of your yearly income and still live life? I thought I was doing ok making 80k bu…

401k total distribution from old job, confused on how to proceed. I did not have much in this 401k since I was not at this job too long, but I received a letter stating I would get a check sent to me with the funds. What I’m confused about is, the total amount was 495.18 and there was 7.00 taken from that for Federal Withholding, so net to me is 488.18. The letter says I will have 60 days to roll this money ov…

401K loan for down payment with repay in 2 or 3 months My wife and I are considering borrowing from my 401k to use as a down payment on a new house we are looking to purchase out of state. When our current house ends up selling, we will have more than enough to repay the loan which we expect to do in 2- or 3-months max. Besides the money not working for us during the 2 or 3 months that it will take …

OneAmerica said they were processing a 401k rollover, now say they never received it We recently rolled over my wife’s 401(k) from a previous employer to her IRA (current employer does not offer a retirement benefit). I also discovered she never actually rolled over her previous 401k, so we ended having two separate 401(k)s rollover checks cut to us. Her current IRA is managed by OneAmerica, both previous 401(k)s were managed by…

True or false: if you can’t contribute to your 401k, you can’t afford the mortgage When planning and budgeting to buy a home, I try to think about it in monthly payment terms. When figuring out what we can “afford” monthly it can kind of mean two things… What we pay now per month, or we can bump it up to include (some of) the money we otherwise put into our 401k/RothIRA/retirement plans. Maxing out 401k is nearly $2k/month…..

My employer is not honoring 401k vestment schedule Hello everyone, here’s my problem. My 401k is on a 20% per year vestment schedule for the employer match. I am approaching my third anniversary and every time I ask about my vestment, there is another explanation for why I have to wait longer. Apparently, the first year of employment was year negative one of the schedule, my second year was year…

Roth 401K company match, can i ask my employer to give me a bigger match instead of a bonus? I’m a disciplined investor for my retirement and future, and i have been maxing out my 401K contributions for a few years. I just switched my contributions to the Roth 401k option and i fully understand the post tax deal with these contributions. I get a company match of 3% which a great perk. I just learned, however, that the IRS allows an even…

Student Loan 401k match – good idea? Background: my employer will match my 401k contributions up to 12% and I am currently contributing 8% (about $140) of each paycheck. My current student loan payments are $103/month (minimum is like $40 but I pay more) and the balance is $4,720 currently. Today I learned about the student loan payment 401k match that my employer offers. From my …

Should I rollover my old Fidelity 401K to Principal IRA? I have a Fidelity 401K from a previous employer with about $45K in it. I also have two small IRAs from previous employers in Principal (contract jobs that had a basic 401K and then automatically rolled over after I left). I also have a new job with a brand new 401K in Vanguard (which I may not stick with more than a couple years). The Fidelity 4…

Roth IRA & 401k????? I am 26. I have a 401k through work that I contribute to 15% of my income and have a 3-4% employer match. I just opened a ROTH IRA account for long-term investment. My question is, is it a good idea to have both? Or is it better to keep contributing to my individual investing account instead of ROTH IRA so I can also be able to cash it out whene…

Solo 401k for self employed Hello, My spouse had some self-employed income last year as a software developer. This was a contract position which they did when they had a full time job in parallel. They have a 401k account with their full time employer. Given the above, can they open a solo 401k to invest the amount earned from the contract job? Or should they look at SEP …

Non-Relative Beneficiary of 401K, owner passed in 2014…5-year rule? I was notified last year by Fidelity that a co-worker of mine had made me beneficiary of his AT&T 401K a few months before he passed away in 2014. He was never married, no kids and made me the sole beneficiary in August of 2014, sadly he passed away November 1st, 2014. I have verified this is a legit account with Fidelity, so there is no scam g…

401k Pretax vs Roth contributions All of the reading I’ve done on the “Roth or Traditional?” question answers the question by saying “what tax bracket will you be in when you retire?” I don’t know; who knows how much I’ll retire with? Won’t that determine how much I can spend using the 4% rule, and how much I’ll have to take in income one RMD kicks in? And who knows what the tax…

New Job/ No 401k for 1+ years I am starting a new job, and will have to sit on the sidelines for a year until I can join their 401k plan. I already contributed the max of $7,000 to my traditional IRA. What would the best steps take before I am able to get into the 401k program? Thanks! submitted by /u/mke2424

Roll Fidelity 401ks into Betterment 401k Hi everyone, I recently started with a new employer that has a Betterment 401k. All of my past employers have used Fidelity 401ks. I’m wondering if it makes sense to roll the 401ks that I have into the active Betterment one to have them all in one place and potentially reduce fees. I’m finding it challenging to figure out the fees that I’m payin…

Roth IRA and Roth 401k Hello everyone, I have been contributing to my Roth IRA for several years now but 2023 is the final year I will be eligible to contribute due to income limits. My employers offered a Roth 401k so I began contributing in December. Is there any benefit to maxing out my final contribution for 2023 for my Roth IRA ? Or should I use that money to …