#contributes

My employer contributes 15% to my 401k. Should I invest more?

( www.reddit.com )

My employer contributes 15% to my 401k. Should I invest more? I recently got a new job. I am 23 years old. This is my first job with a 401k and I am brand new to investing. My employer automatically contributes 15% of what I make, to my 401k. This doesn’t come out of my paycheck. They don’t do any kind of 401k matching. I have read multiple times that 15% of my income is what I should be saving for retire…

Reddit Personal Finance 1.2k 2025-02-09

About to open 529 for my grandsons in NJ. Can my father (their great grandfather) get a tax deduction if he contributes to it? He earns more on investments than we do.

( www.reddit.com )

About to open 529 for my grandsons in NJ. Can my father (their great grandfather) get a tax deduction if he contributes to it? He earns more on investments than we do. We are retired, but pre Social Security. My dad gets Social Security and also RMD’s from IRA’s and interest on CD’s etc. His income is higher than ours. We are going to open a 529 for our grandsons and I just wanted to clarify if the tax deduction is only for us (the ones opening the account) or if he can claim whatever he contributes. (assuming…

Reddit Personal Finance 641 2024-06-29