October 2019 15k SPAM Thread

[JayKay PE]

I maxed out employer contribution in the first year. and currently I think I'm at 13% contribution to my 401k at the advice of my mother (dump as much as you can in now and reduce contributions when you're older if you need to since you won't miss the money now) 

Max out employer contribution =/= max out 401k.  Maxing out your 401k (be it Roth or traditional) to federal limits is approx $19k starting in 2019.  An additional $6k can go into a Roth IRA account, which is different from a Roth 401k.  There is a lot of stuff going on, but your mom's suggestion of dumping as much as you can now is pretty solid advice.

 

[Will.I.Am PE]

since you won't miss the money now

:mellow: Pfft, must be nice...

 

[RBHeadge PE]

30 hit and I feel like I'm not adult-y enough

30 is the new 21

 

[LyceeFruit PE]

:mellow: Pfft, must be nice...

lol, her advice is because she got a job with 401k & benefits when she was almost 30 and already had me. and student loan debt for herself. So that's the advice she gave 21yo me. 

 

[ChebyshevII PE PMP]

today's top post

Thanks, what an honor!

 

[phillstill]

That reminds me, I need to rollover my 401K from my previous company. 

 

[matt267 PE]

Hey Matt when you coming up to Boston?

I currently don't have any plans. When are you coming to Prov.? 

 

[Will.I.Am PE]

lol, her advice is because she got a job with 401k & benefits when she was almost 30 and already had me. and student loan debt for herself. So that's the advice she gave 21yo me. 

Yeah, I'm much closer to your mom's situation. 

 

[LyceeFruit PE]

Max out employer contribution =/= max out 401k.  Maxing out your 401k (be it Roth or traditional) to federal limits is approx $19k starting in 2019.  An additional $6k can go into a Roth IRA account, which is different from a Roth 401k.  There is a lot of stuff going on, but your mom's suggestion of dumping as much as you can now is pretty solid advice.

Oh shit, I just looked at my paystub to see what I've put into my 401k so far this year, I could do quite a bit more 

 

[RBHeadge PE]

Another general tip: when you get a raise, put the added income into some kind of retirement or long term savings account (401k, IRA, etc). Psychologically you can't miss what you never had. You'll thank yourself later. Obviously only do this if you can afford it.

 

[RBHeadge PE]

Max out employer contribution =/= max out 401k.  Maxing out your 401k (be it Roth or traditional) to federal limits is approx $19k starting in 2019.  An additional $6k can go into a Roth IRA account, which is different from a Roth 401k.  There is a lot of stuff going on, but your mom's suggestion of dumping as much as you can now is pretty solid advice.

quoting for emphasis

lusone:

 

[RBHeadge PE]

Oh shit, I just looked at my paystub to see what I've put into my 401k so far this year, I could do quite a bit more 

Did you fix it?

If not, stop spamming and fix it

 

[RBHeadge PE]

$19k is about $730 per biweekly paycheck.

 

[MadamPirate PE]

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[MadamPirate PE]

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[MadamPirate PE]

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[MadamPirate PE]

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[MadamPirate PE]

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[MadamPirate PE]

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[MadamPirate PE]

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