Defined Benefit Pension vs Stocks and 401k match Hello! I’m early 40s and have 10 years vested in a public institution with a Pension I can draw on starting at age 50. I have been offered a similar paying job at a coveted tech institution offering 50k in stocks and a 401k match up to 10k yearly. I personally have ~500k in retirement (403b, ROTH, 401k rollovers) in addition to the defined bene…

Should I drastically increase 401k for the rest of the year? Wanted to get some perspective on this because it feels a little drastic! My (30) husband (30) started a new job May 1 that has a 50% match up to the annual IRS limit, $22,500, which is incredible. He has been contributing 20% each paycheck and so far his personal contribution is 10.9k. He has 4 paychecks left this year and I’m wondering if it w…

Does my new employer’s 401k not allow for rollovers in? (Screenshot) Hi! like the title suggests, I’m trying to rollover my old employer’s 401k balance into my new employer’s Vanguard 401k. I read Vanguard’s FAQ on rollovers, and it tells me in the general FAQ to click on “Transfer assets in” under “Manage your Money” tab, however my “Manage Your Money” tab did not have that specific option. So I looked up my Pla…

Need opinions on which option I should choose for my first Voya 401k I’m 28 years old making ~$52K a year. I plan on only contributing what my employer matches which is 4% of my bi-weekly paycheck. I’ve heard that Voya isnt the best when it comes to 401k’s so if anyone has any knowledge of Voya’s options and would give me their opinion on what may make the most sense for me I’d really appreciate it! submitted…

Found out I can Mega Backdoor 401k, now what? So I found out my company does offer this. However, my after cash contributions can only come from my paycheck so it with it being October I don’t think I can do much this year anyway. ​ Can someone explain the benefits though? I put money in my 401k. Then I move it to a ROTH 401k. I then pay taxes again on this money. However, I already paid in…

What to do with 401K when leaving a company when new employer does not offer one? My wife is leaving a full time benefited position for a part time un-benefited one. She has approximately $100K in a 401K that her previous employer is telling her she either needs to roll over, or cash out her 401K. Her new employer does not have a plan for her to roll into. What would be the best option for her? submitted by /u/TheCaIif…

Is there any reason not to immediately convert after-tax 401k money to a mega backdoor Roth? I currently defer part of my paycheck as after-tax 401k contributions (beyond the $22,500 IRS limit for traditional/Roth contributions), and I’ve been using my plan’s option to immediately convert that after-tax money to Roth. As it’s immediately converted every paycheck, there’s no pre-conversion growth, so no tax is owed on the conversion. As …

$5k per month take home after tax, planning to contribute 20% to 401k. Should I use traditional or Roth? I also have the option of splitting my contributions 10% to each. I’m 25M submitted by /u/Ok-Management2959

401k fees question when married I started a new job that has a 401k but it has no company match and it’s fees are about 1.2%. This seems like a lot of money lost over the long run due to these high fees. My wife also has had a 401k for a few years now and her fees are 0.4% and a 50% match up to 3%. We both make 50k each and I want to put away a combined 15% of our net pay to…

Terminated- need to roll my 401k into something. I was promoted to a contractor with my company that I’ve been with for 16 years, I am now 1099 self employed. They are going to send me my 401k closure info so now I need to roll it into something, IRA I supposed. It’s about 300k, what’s the best thing to do with my money? submitted by /u/warnerved400

Employer mandating $2000 in monthly 401K contribution but not investing 1st yr’s contributions in the target date fund until next year… I’m a highly compensated employee by the IRS’s definition, located in CA, working as a dermatology Physician Assistant/Associate in a large multi-practice group with well over 100 employees. When I enrolled in my 401K plan in July 2023, I authorized $1000 monthly contributions, starting low so that I could throw more at my student loan payments …

Employer withheld incorrect amount of paycheck for 401k. Can I ask them to reissue the payment with the right 401k contribution? tl;dr my employer didn’t contribute the right amount of my paycheck to my 401k and I am wondering if there is a way to have them reissue the check with the proper contribution amount. The full story: I do work for a company as a W-2 employee and am paid hourly. My hours fluctuate widely from month to month. To get paid, I fill out timesheets at …

If you are rolling over 24k from old employer’s 401k plan to a new rollover IRA and then to a Roth IRA… WYD: How would you go about moving money from the rollover to the Roth to avoid heavy tax fees? Would you move about 5k per year from the rollover into the Roth account? submitted by /u/sk8tergurl100

Maxing out Roth 401k, what next? Hello everyone. I currently make about $160k/yr in a very HCOL area (SF). I’m currently maxing out my Roth 401k which is my only significant investment. After 401k and expenses, I’m saving about $1.5k per month post tax in a HYSA. How should I invest with this money? I am currently 22 so saving for a home is not on my radar yet. My goals for inv…

My wife’s 401k with former employer. My wife got a new job in January of this year. She dragged her feet on rolling over her 401k from former employer. We are obviously beyond the 60 day period to rollover that 401k. From what I understand, this is now going to be treated as a disbursement. She will get hit with a 10 percent early withdrawal. 20 percent will be withheld for taxes a…

What happens to my 401k if I die? Having a kid in a few weeks and just increased my term life policy, but was wondering what happens to my 401k if I die? Does my wife/kid have to wait until their retirement age to access the funds or are they able to right away? submitted by /u/adumau

Is it better to roll your old employer’s Roth 403b plan to your Roth IRA or new job’s 401k? I’m leaning towards the IRA since it would be better? Not sure. What are your thoughts. submitted by /u/No-Caterpillar8241

401k but no matching and high fee My new employer offers a 401k through Voya. There is no matching and the expense ratio for the Target Date funds is .58 – which, compared to my previous vanguard 401k seems really high. So it is not a super attractive option. I will plan on maxing out an IRA going forward but I’d like to be putting away more than the contribution limit. Do I su…

Solo 401k money that I can’t add to. Options? I’ve got 73k in a solo 401 that I can no longer add to, but I can keep it all there. Thoughts on the best things to do with a solo 401k account right now? Is there a way to invest in bonds? or, is better to just roll it over to my other robo advisor 401k account? submitted by /u/Fit_Alps894

Tipped employee question about 401k contributions and taxes The company I work for offers a matched 401k. The majority of income received by the restaurant worker is in the form of tips that are not paid out on the paycheck, but the gross amount is all accounted for on the paycheck with an IRS tip-agreement. I’m struggling to find a clear answer on 401k contributions for a tipped employee and tax ramific…