HSA newbie how much to contribute Hi everyone, I’ve only recently started taking investing seriously. I’ve had a HSA with Fidelity since May 2024 & bought some FZROX with some of the $ in it. HSA individual contributions are 4300 this year and I’ve done close to 950 only. I also didn’t know the funds in it should be invested like any other investment account and not just sitting…

What to do with my HSA now that I no longer contribute? I had a high deductible insurance plan with an HSA, but switched to a different plan in the marketplace a few months ago so I can’t contribute anymore. I was using my HSA balance to make medical payments, and have a little less than $800 remaining. Just noticed they’ve started taking out a $3.95 monthly admin fee, presumably because my balance i…

Is it worth it to contribute to your after-tax 401k? I accidentally maxed out my 401k before the end of the year so there are a couple weeks of company match that I’ll be missing out on. I was recommended to contribute to my after-tax 401k to still get the match. Is there anything in the future that I may need to worry about if I need to do any type of conversion? I’ll only be missing out on $160i…

Employer no longer matches 401k. Do I still contribute, move my money to a ULI policy, or both? This year I maxed out my 401k contributions despite my employer getting rid of the match. Now I’m wondering if there’s a better way to invest/distribute that money. A friend recommended diversifying with a universal life policy since I could borrow against it down the road, but I’m not sure whether a VUL or IUL would be a better option (if at al…

Is it risky to contribute more to my IRA to cover conversion tax costs? i maxed out on roth ira contributions for 2024 (7k) i have around 4k in a traditional ira that i contributed to back in 2020 but next year i will enter a new tax bracket, and i will be unable to contribute to a roth ira I have decided to move my traditional ira money into my roth ira via a conversion so i can do backdoor iras starting next year…

Can I add my domestic partner to my health insurance so I can contribute the family max to my HSA instead of the individual max? In general, my plan is to use my HSA as a retirement account, pay any medical expenses out of pocket and save receipts to reimburse when I retire. If I add my domestic partner to my insurance, will that allow me to contribute the family max instead of the individual max or do we have to file taxes together as well? She is basically unemployed (d…

Should I contribute to my Roth IRA while waiting for 401K eligibility? I, 27M, recently left my job of 4 years to relocate and move in with in-laws to save money. I have a 401k with my last company that has a balance of $10,500. After relocating, I found a job through a staffing agency that will eventually transfer me to hire on directly with the company I am doing work for. However, because of the staffing agency …

Contribute 75% of paycheck to 401k for last 2 months? Hi All, I have contributed about $5k to my 401k this year, is there any downside to upping my contribution to the max my company allows (75%)? I’m in a situation where I won’t need my salary for expenses for the remainder of the year. Just want to be sure I’m not missing something by trying to catch up a bit on pre-tax investing. submitte…

Should I contribute to 401k plan with employer I plan on leaving after schooling is done (3 years max)? As the title states, I work for an employer with a 401k match but I do not intend on staying with this employer. I decided to go back to school awhile back for something far different than my work now, so I will be leaving the company within the next 3 years. Trouble is, I have no idea how this works, is it a waste of money to make any contribut…

Pay Less Federal Tax and Contribute the Difference to My 401(k) Hello everyone, Pre-2020, I could increase my allowances and put the difference in a pre-tax account, offsetting my tax liability. Now that the tax laws have changed, how can I mimic the pre-2020 W2 so that I use what would have been federally taxed to contribute more to my 401(k)? If this is possible, would it still offset like the pre-2020 er…

Can I contribute $7k to IRA if I just started my job and have not been paid? I just started a summer job a couple weeks ago and waiting for my 1st paycheck. I expect to earn at least $7k by the end of the calendar year. Can I simply contribute $7k to my IRA right now? Or do I have to wait until I have officially earned $7k of income? submitted by /u/Critical-Dreamer

How much to contribute to 401k as new grad? I just started a job fresh out of school making 90-100k a year working fully remote from my parents home with no expenses. How much should I be ideally contributing? I currently contribute 25% to the roth 401k, but my company doesn’t match until after 180 days. I just need some advice as my dad recommended me to do 25%, but i’m not sure if thats…

Contribute to IRA if retired (spouse working) Contribution to IRA if retired I’m 48m and wife is 46. I’m retired now but she just started working in local school. She has never contributed to any retirement fund as she recently started working. I have 650k in 401k and IRAs. Can (and should) we contribute 6500$ EACH to IRAs while I’m retired and she is working for next 10 years so we can t…

Does it matter what retirement account you contribute to for your savings percentage? Traditional wisdom says you should save 10-15% of your income for retirement. I’m currently contributing 6% to my 401k to get my employer’s match. It’s my understanding that I can make up the next 4-9% with Roth IRA contributions. Is that correct? Are there potential losses by not putting it all in my 401k? submitted by /u/McSweetSauce …

Can I do a mega backdoor Roth if I’m still eligible to contribute to a Roth IRA this year? Title. Will be under for this year still to contribute to Roth normally but in next year(s) may not be and so I was looking to do mega backdoor Roth from my company’s 401k. However, if I just wanted to dump more into my Roth , can I still utilize the mega backdoor Roth? submitted by /u/MadMax_08

How much to contribute to mega backdoor Roth My employer offers mega backdoor Roth and I don’t make enough to max it out. How much should I contribute to it, assuming I’m maxing out 401k, live in HCOL area, and am looking to save for a down payment on a house. I’m new to the concept of mega backdoor Roth so any advice would be appreciated! Especially in terms of how to prioritize savings …

Contribute to Roth IRA or 401k or both, and by how much? Firstly, I am a minor. I have a summer paid internship and my employer created a 401k for me, but I can also put it in my Roth IRA as well. I expect to be paid $8000 by the end of this summer (also the end of my internship and pay). I don’t think my employer matches. Which should I contribute to(or both), and what percentage of my pay should I c…

First real job, how much to contribute? I’m turning 37 this year, and after a career change, started my first “real” job last year. Up until now, I haven’t prepared for retirement, but in the last year, I’ve accumulated about $5k in whatever retirement account I was setup with by default. Now that I’m starting to get serious about it, what should I do? Roll my current plan into an IRA…

Should I contribute to 401k? Stupid question but I know everyone says to contribute to your 401k, especially if there is a match, but is it still worth it if I’m not sure about how long I’d be staying at the company? My employer offers a 401k with a match up to 4% of my pay. I’ve been working at my employer for 9ish months but I’m not sure how much longer I’d be with them s…

Contribute to 401k and Roth IRA Hi all, I know Roth IRA contributions is limited by earned income/$7000(2024) whichever is lower. Maybe a silly question but if you earn $7000 could you contribute all of it to your Roth and some to a 401k? Do the 401k and Roth contributions affect each other ? submitted by /u/Stephvann