Combined contribution to Roth IRA, Roth 403b, and HSA is more than earned income Couldn’t find an answer to this online, so thought I’d just ask. In 2024, maximum combined contribution to HSA ($4,150), Roth IRA ($7,000), and Roth 403B ($23,000) is $34,150. If “Jim” has earned income of $30,000, can he still max HSA / Roth IRA / Roth 403B with say, money in his saving’s account? It’s confusing because thought individually, “J…

403 (b) contribution Im in my first job out of college, making 45k a year at a nonprofit. How much should I contribute to my 403 (b)? My employer does not match at all… I want to do 10%, is that crazy considering how little I make? They also said I can invest either pre-tax or post-tax. I have no clue what that even means. Help please! submitted by /u/Grand_A…

HSA contribution change and taxes I had a baby in May. I changed my HSA contributions to maximize the contributions for a family plan, which is $8300. HR assisted me in the calculations. I was on an employee only health plan until I gave birth, and now my plan covers my son as well. I started thinking about taxes, and have a question that I can’t seem to find an answer. Am I all…

529 limits – parents contribution We’re going to be opening a 529 this year and are planning to super fund it with the full 90k. We’re aware that the limitation is 90k / tax payer and that we’ll file a form 709 each year for the next 5 years. Our parents want to contribute to the 529 as well. Do we need to account for this in anyway, or do we only need to care about our contribu…

First Job, 401k contribution? First job, making ~45,000 yearly. 22M with 0 debt. Living at home to save money. Trying to decide the portion of salary to go to 401(k), personal investing, etc.. thoughts? Are there any rules of thumb? Side note.. employer won’t match contributions for 1 year submitted by /u/zburrows

How does the family contribution limit work for HSAs? Hello! For the most part, I know that HSAs are individually owned. Can one person invest up to $8300 in their account or is it required to have two accounts with $4150 each? submitted by /u/DMoveNA

403b vs defined contribution plan Hello! My work offers a a 403b plan, which I am maxing out my contributions for but they also offer a defined contribution plan. I am a newbie to all of this so I want to know if it’s possible/wise to also contribute money to that plan. They are contributing 3 % my salary based on my years of working there. Thanks in advance! submitted by …

529 contribution amount What is a “good enough” amount to contribute to 529 plan each month to ensure in 18 years my baby will have college fully funded? Edit: maybe budget for a good California state school. submitted by /u/UpstairsAide3058

Help, should I pause my 401k contribution My other half recently developed a rare chronic pain condition which is preventing her from working. Before we would split our shelter costs and food, but now that she can’t work, I have been paying the expenses. I also had to add her on to my insurance, because most of the good doctors in our area don’t take medicaid. My employer charges $400/m…

HSA 1 Time Large Payroll Contribution? I recently discovered the power of HSAs. I have started putting $100 from my paychecks to my HSA account. I have ~$3k in unpaid claims (with all attached documentation) tracked in my account. The services were paid out of pocket and dates of service were all within the time the account has been open. Would I be able to do a one time payroll ad…

Dependent Care FSA Contribution Limits? Are there income limits to contributions towards a dependent care FSA for married couples filing jointly? Can this be determined by your employer? submitted by /u/KO9212

Percentage of contribution for Roth vs. Traditional 401k? So, I’ve read a lot of articles that suggest contributing 10-20% of your paychecks to your 401k accounts. I imagine with a traditional 401k this number would refer to your gross income. But since a Roth account is post-tax, does that mean I should aim to contribute 10-20% of my NET income if I open a Roth 401k? I can’t seem to find a clear answe…

Google Discontinues Translate Community Contribution Feature via @sejournal, @MattGSouthern Google discontinues Translate’s Contribute feature, citing improvements in translation quality driven by advanced machine learning techniques. The post Google Discontinues Translate Community Contribution Feature appeared first on Search Engine Journal.

Is the yearly Roth IRA contribution limit just cash going into it or selling within? Opened a Roth IRA and trying to understand how selling positions within it would work and if that affects the yearly contribution amount? Does reinvesting cash profits within it after selling count as contribution ? submitted by /u/Distinct_Spite8089

Can you max our your Roth IRA contribution if you only earned $6500 during the year? I was just wondering if you were supposed to use the pre-tax amount or post-tax amount. Say you earned $6,500 but post tax it only comes out to $6,000. Can you contribute $6,500 to your Roth IRA or only $6,000? submitted by /u/dumbquestionssorry

Should I increase my 401k contribution? im contributing 10% salary(120k) into my 401k. I understand the ideal amount is 15-20%. Im eligible for a pension that takes 6% of my salary already. I was counting this 6% into my total so I left my 401k at 10% I can contribute more but I also like having cash build up (which I put into an HYSA) am I okay with the 10% in 401k? I plan to retire …

IRS released 401k and IRA contribution limits for 2024 https://www.irs.gov/newsroom/401k-limit-increases-to-23000-for-2024-ira-limit-rises-to-7000 ” The contribution limit for employees who participate in 401(k), 403(b), and most 457 plans, as well as the federal government’s Thrift Savings Plan is increased to $23,000, up from $22,500. The limit on annual contributions to an IRA increased to $7,000…

Can I do BOTH a reduced Roth IRA contribution And a backdoor Roth in the same year? Is there any reason to do BOTH a reduced Roth IRA contribution and a backdoor Roth in the same year? to get to the total $6,500 limit? or should I just ignore the fact that I can do a reduced Roth IRA contribution and just do a backdoor Roth for the full $6,500? submitted by /u/stresspimp

HSA contribution limit increase for 2024 Just got an email at work reminding me about our upcoming open enrollment period. Just a reminder to those that are auto opted in each year….the contribution limit is increasing again for 2024 so remember to make that change if you are someone that maxes out your contributions. The HSA contribution limits for 2024 are $4,150 (up from $3,850) f…

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…