What is the best way to contribute to your retirement accounts? Sorry if this is a REALLY dumb question… I want to max out my retirement account contributions for IRA and 401k by the end of each year… Is it better to invest all your money in stocks? And then sell at the end of the year when you want to contribute to those accounts? Or make a savings accounts which you withdraw from once a year to contrib…

Best Way to Contribute to HSA? We have an HSA, and the employer contributes $2500. In tax year 2023, that left another $5250 for us to contribute to get to the max, which we did. However, we did this as one lump sum just before we filed taxes. Employer is now telling us that it would have made more sense to have that $5250 deducted bi-monthly from paychecks, since we would ha…

What is an IRA and why shold I contribute Ok, so i am 54 years old, wanting to pay off debt, and start saving for kids college and retirement. I know its late but i am done not being bettter with my finances. I am hearing about I should consider conributing to an IRA… how does this benefit me. I really dont know anything about finances and the more help i get for trying to understand …

Question: Am I allowed to contribute to a Roth IRA? Sorry in advance for any lapse in Reddit etiquette — this is my first post on the app! So, I learned recently the deadline each year to contribute to a Roth IRA is April 15th (the tax deadline). I’d like to know if I am allowed to open an account/start investing today the full $6,500 for the 2023 tax year (April 14th) and then make a $7,000 con…

Can I contribute to an IRA without any tax consequences? I have a SEP IRA from an old employer retirement plan. My new retirement plan is a 401k, but I cannot roll my SEP IRA into it (I’ve double checked and my plan doesn’t allow for it). The plan also does not allow for mega backdoor Roth conversion and I make above the contribution limit for direct contributions to a Roth IRA. I am thinking about j…

I think I gave out my SSN to a scammer – what can I do? Also, I’m very mad about this – is there any way I can contribute in efforts to take down any scammers? Woke up this morning and saw an email from Optum saying there were fraudulent transactions on my account, and asked me to click yes or no to verify transaction. The email looked legit – had my full name (spelled as one word specifically only on Optum cause they couldnt get that my first name is 3 different words), had the last 4 digits of my Opt…

Do I need to make income to contribute to my Roth? On my bank account online it’s literally just a “deposit here” button. How do they check? submitted by /u/poetwithout

My wife and I contribute to a dependent care FSA, can she get reimbursed for daycare that I pay for for our toddler? Basically, I contribute $2000 she $3000, the daycare comes out of my checking—not joint technically. Can she get reimbursed for the daycare that comes out of my checking? submitted by /u/MyDadIsTheMan

Public employer doesn’t contribute to social security and no pension? I recently started a new job working as a public employee that does not contribute to social security. From my reading, I understand that this is fairly common for public employees with pensions. However, my employer also doesn’t provide a pension plan. In fact, they stopped offering pensions a few years ago. They do provide a fairly generous re…

Can I contribute to HSA for one month while I don’t have health insurance? I am switching jobs. My family is going without health insurance for the month of November as my new insurance kicks in December 1. Can I contribute $645 to an HSA for this month? ($7750 Yearly max/12 months) submitted by /u/i-framed-rogerrabbit

How much should I contribute to my 401k? Salary is $235k. Employer matches $1 for $1 up to 50% of the IRS deferral limit. How can I take advantage of this matching and save the most without overcontributing? Currently have my Fidelity set to 12%. submitted by /u/n0epiphany

LPT Request How to deal with a friend who doesn’t contribute to anything For context, I have a friend who cannot sit at home and always be on the go. Since I am the guy who has a vehicle, this friend always eats my head to go to either grab something or for a long drive to the middle of nowhere. I was okay with this since I also didn’t have any other plans. But lately, I have been feeling like he doesn’t contribute f…

Should I contribute up to employer match or go up to 15% for 401k? Getting conflicting answers from everywhere. Recommended just the match and save from friends, managers, financial advisors but everywhere online says 15% minimum? Any thoughts? submitted by /u/TheEpicBox

Recently married. Just found out that I am not eligibile to contribute to a Roth IRA as a result of planning to file separately. I have already made contributions this year. What now? Do I just withdraw this year’s contributions? Will I face a penalty or tax? How should I handle this? Must file separately to minimize income-driven loan repayment burden – this is currently non-negotiable. submitted by /u/JanetYellenThrowAway

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’m blind, and I want to contribute something to this world. Could use some advice

I contribute 15% to retirement and my employer contributes 8%. Am I good to coast? I’m lucky and my employer contributes 8% to my retirement accounts. It is not a match, they contribute that much regardless of what contribute. I max my roth Ira and HSA and round out my 401k contributions so that I am contributing technically 16% of my annual income to retirement accounts. That makes my total retirement contributions 24% of my …

How much should I contribute to company 401k? 23 years old just landed job making 140k+. Currently have $20,500 in savings, $5,000 in my Roth IRA, and $8,000 in other stock. Currently enrolled for 10% into my 401k through work, which matches 50% of 6%. Is this an ok amount to contribute? Other things to note: My current rent is $400 a month and I spend about another 1,800 a month on other …

Apple Says iPhone 15 Pro’s Titanium Frame Does Not Contribute to Overheating Issue Apple today said it plans to release an iOS 17 software update with a bug fix for the iPhone 15 Pro and iPhone 15 Pro Max overheating issue, and the company has since shared additional details about the matter with MacRumors. Importantly, Apple said the issue is not related to hardware. Contrary to a report this week, Apple said the iPhone 15 P…

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…