Maxing out 401(k) all at once vs. over the year I am thinking about deferring 100% of my bonus in to my 401(k) pretax next month. Doing so will max out my contributions for year all at once, but my thinking is that I’ll be getting the full amount rather than losing ~40% to taxes. The only downside I can think of is that by contributing over the whole year I will be dollar cost averaging and h…

Maxing Roth IRA, but then, 401(k) Roth or Traditional? Basically the title. I’m 31M, maxing out my Roth IRA. I have a 401k that’s currently set to 4% Roth contributions, but is that the best or should I switch it to traditional? Is there a way to figure out which combo is best? I feel some people say all Roth is the best, while others say a blend is better. submitted by /u/tcwmatt …

When to stop maxing out 401K contributions My wife and I have been maxing out retirement accounts for almost a decade now. We have extremely generous employer matches as well. (6%) Accumulated ~1M $. We are in our late 40s. When is a good time to stop maxing out and just splurge a little. Based on conservative estimates, we stand to get a combined 6K a month in pension and SS payments st…

Maxing out 401k during maternity leave My wife is due soon, and there is a good chance she is quitting after her 12 weeks of maternity leave to raise our kids. I think we should try and max out the 401k before she quits. She is hesitant to do so. She dislikes the idea that the money is locked up for retirement and would rather have that money in savings or something more liquid. W…

Maxing 401k/Roth IRA I am currently 22 making a $93,000 salary. I know investing earlier is something everyone always wishes they did, and I am fortunate enough to be making high 5 figures this early on so I’m just wondering how I should split my retirement contribution for the most efficient savings My company does a 1-1 match up to 6% for the 401k and I am current…

Maxing out 401(k) contributions I’m planning to contribute the maximum amount to my Fidelity 401(k) this year. I’m eligible for the catch-up contribution, so my total contribution will be $23,000 + $7,500. I’ve been specifying a fixed amount going into the regular 401(k) and 0% towards catch-up. I’m getting very close to $23,000. When my contribution exceeds $23,000, will the …

What to do after maxing out 401(k) in my situation I am 53, married filing jointly, MAGI for the two of us approx 200K I am wondering what to do after maxing out my 401(k) contribution – Roth IRA? Traditional IRA? Taxable brokerage? Money would be intended for retirement, I would not plan on withdrawing it for ~10 years+ (FWIW besides my 401(k) I have ~12 months of emergency savings, no debt exc…

Question about maxing out my IRA and 401k I have a personal IRA with Fidelity that has a cap of $8,000.00 per year. I also have a 401K (through my job) which I believe the cap is something like $38,000.00 a year. From a Taxes point of view, when I hit the limit on both do they both count as ways to reduce my income taxes? Meaning is there any risk if I max out both of these come taxes t…

Maxing out a 401k after switching jobs I want to max out my 401k contribution this year. I recently switched jobs, so my payroll won’t automatically cut off 401k contributions. I’m going to manually try to calibrate my contribution % to get as close to the max as possible, but what happens if I go over? submitted by /u/mcar91

Are people really maxing out their 401k?? I see the advice so often “max out your 401k” and then all the other typical advice, paying high interest debts, budgeting, etc in no particular order here. To max out a 401k in 2024 the limit is $23,000. Are y’all really making enough that you can take $23,000 out of your yearly income and still live life? I thought I was doing ok making 80k bu…

Taxes after maxing 401k This is the first year i can afford (well, attempt to afford), maxing my 401k contribution. Looking at my paystub, it appears that taxes are withheld on the basis of my gross pay. Is it worth adjusting my withholding, is that what most folks do? Or do i just not mess with it and get a refund? How do i figure out what the right withholding is? I’…

Maxing Out 529 in Virginia? I am 21 weeks pregnant with our first and only child. We live in Virginia and I was looking into a 529 plan. Virginia’s plan allows for a max tax deductible contribution of $4,000 per year. My questions are: If I can swing it in 2023, should I open the 529 now with the max contribution? If we can swing it, would it make sense to do the max co…

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…

At what salary should you be maxing out 401k How much, in your opinion, is the threshold salary at which you should be maxing out your 401k each year? I know it’s more complicated and depends on variable factors like COL in your area, debt, life goals, etc. l’m just curious if there is a general consensus of “once I start making $X I will feel comfortable deferring $22.5k”. I think this is…

Should I really pay off all my debt before maxing out retirement accounts? I (23) have about 30k remaining in student loans. 22k public with an average interest rate of 3.5%, and 8k private with an average interest rate of 4.3%. My minimum payment is $410, but I’ve been paying $500-$600 to get these paid off faster. I recently built a 3 month emergency fund of 9k in a HYSA. Per the flowchart, now I should pay off all …

Maxing out 401k. Is it worth it or should I diversify? I have been maxing out my 401k for a little over a year. Additionally to contributing to my 401k, I have a Thrift Savings Plan (TSP) that I had been contributing but stopped since creating a new 401k with my employer. I am 29 y/o, I have $48k in TSP, $22k in 401k, $50k on stuck units from employer, and $100k (approx) in equity of my home. These…

Considering maxing out 403b, is it the right move for us? Hey Reddit, I am contemplating having my husband and I max out our Roth 403b’s, and although I’m sure we can swing it, I am wondering whether it is actually the smartest thing to do. For context, we are both in our early/mid-thirties. We are very fortunate in that we have paid off our mortgage early and are already maxing out our Roth IRA’s. Nei…

What’s the next step after maxing 401k? Currently I save 17% of my paycheck with 10% going into my 401k and 7% going to my companies ESPP which purchases stock twice a year. I treat all stock as future savings and sell and move the money into a taxable brokerage. I do get a match on my 401k contribution but it’s not a ton. I’m going to get a raise in the next few months where 10% of m…