The Driver
I drive.
I'm at 35% just to get to the max amount. For 2020 I plan on doing about 20% contribution for the whole year, steady.
Time to bump up that 401k
Sweet!
The Driver
I drive.
Can you contribute more than $19K in our plan? Is it set up to allow more but with the caveat you don't get any tax benefit? I know some plans out there allow you to keep adding above the limit but didn't know if Prudential did and haven't checked into it.
You can't go over the IRS limit
You can open a ROTH IRA and put an additional 6k a year away
The Driver
I drive.
Yeah, I'm reading where some plans let you contribute up to $56,000 a year but you only get the tax treatment on the $19,000 part of it.
I think I'll keep it simple anyway and do the Roth IRA before the end of the year.
You don't want any tax headaches
Not sure if you can out after tax money in on top of it. I know you are allowed to contribute 5%
The Driver
I drive.
Do you max your 401k? If so then do they credit you back any money that you've over-contributed?
Brownslave688
You want a toe? I can get you a toe.
Combined you and your employer can contribute up to 56k. Employee limit is 19k though
I don't max it. I know they just quit taking it out when you hit the limit.
The Driver
I drive.
Perfect. I didn't wanna be in a situation where I overshoot and complicate
Nothing wrong with having investments outside of your 401kPerfect. I didn't wanna be in a situation where I overshoot and complicate
Jkloc420
Do you need an air compressor or tire gauge
Jkloc420
Do you need an air compressor or tire gauge
401ks are actually a scam even though I'm in it
But hasn't your account except for the last year went up nicely?
Jkloc420
Do you need an air compressor or tire gauge
I'm done 20 percent
Nobody wants to buy stocks when they are on sale
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