Reply to thread

Message

<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 1167207" data-attributes="member: 12570">Re: UPS/Teamster 401k...Prudential to a Dreyfus self managed account...+22.86% for 20Sorry, ben squared, but in this case you are mistaken.The information I took is directly from our 401k website.&nbsp; I posted a link but deleted it as the link contained my personal information so I typed it directly from the contributions page.&nbsp; You can check it out for yourself if you think I am wrong.&nbsp; The contribution and catch-up rates are the same for both the traditional and Roth 401k&#039;s (35% and 10%, respectively) as is the maximum combined contribution rate (40%).You are right in that contributing to the Roth rather than the traditional 401k will have a significant impact on your take-home pay.&nbsp; This can be off-set by increasing the number of withholdings on your W-4 but you need to be careful when doing this as it could come back to bite you at tax time.You were also incorrect about the income limits for a Roth IRA.&nbsp; I am also with Edward Jones, I make $70K/year and had no problem setting up my Roth IRA.&nbsp; I posted a link which shows the income limits based upon marital status.I may not know much about day trading but I am well versed in how our 401k works.</blockquote>

[QUOTE="UpstateNYUPSer(Ret), post: 1167207, member: 12570"] [b]Re: UPS/Teamster 401k...Prudential to a Dreyfus self managed account...+22.86% for 20[/b] Sorry, ben squared, but in this case you are mistaken. The information I took is directly from our 401k website. I posted a link but deleted it as the link contained my personal information so I typed it directly from the contributions page. You can check it out for yourself if you think I am wrong. The contribution and catch-up rates are the same for both the traditional and Roth 401k's (35% and 10%, respectively) as is the maximum combined contribution rate (40%). You are right in that contributing to the Roth rather than the traditional 401k will have a significant impact on your take-home pay. This can be off-set by increasing the number of withholdings on your W-4 but you need to be careful when doing this as it could come back to bite you at tax time. You were also incorrect about the income limits for a Roth IRA. I am also with Edward Jones, I make $70K/year and had no problem setting up my Roth IRA. I posted a link which shows the income limits based upon marital status. I may not know much about day trading but I am well versed in how our 401k works. [/QUOTE]

Verification