{ "media_type": "text", "post_content": "Campus hire. New to investing/retirement savings. I know it’s important to “max out my 401(k)” so I selected my pre-tax 401k contribution to the % that my employer matches to on my account. Is that al", "post_id": "5df93d85b202d30021d14bae", "reply_count": 14, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

Campus hire. New to investing/retirement savings. I know it’s important to “max out my 401(k)” so I selected my pre-tax 401k contribution to the % that my employer matches to on my account. Is that al

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Agree with the above responses. Additionally, just an FYI, maxing our your 401k likely means contributing more than the % that your company matches. For example if you make 70,000 you’ll have to contribute 27% to hit the 19k max even if your employer only matches the first 6%

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^agree but with clarification: Definitely max out - make yourself afford it. You'll thank yourself layer

Certain companies contribute the matchibg part at the end of the year only or dont start till x months of service

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KPMG matches after the year is over - Feb iirc.

OP, read your company's 401k materials thoroughly. It should tell you when contributions start. Could be 2 pay periods to get it in the system or could be that you're not eligible for a few months. You'll also want to know when your company does their match. Is it each paycheck contribution or at the end of the year. If each paycheck, you want to make sure you're contributing at least the minimum to get the match. As others mentioned, maxing out means hitting the 19k / 19.5k limit (it changed from 2019-2020). If you're truly looking to max out, you probably won't get much towards that goal this year given the timing. But you do have until tax day 2020 to contribute to an IRA that counts towards 2019 if you have extra funds.

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All I need to do? It’s been saying the balance is 0.00 for a few weeks now and kinda confused if it automatically takes the 5% out of my paycheck each pay period or if I was supposed to do something else

Reach out to HR for clarification - don’t be shy.

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In PwC , once you set/change your contribution rate, it can take up to two paycheck cycles for it to take effect. Don’t recall how it was when I started. But it sounds like you’re good on your side. Check with HR / coach on how long it takes to show

Google 'The Stock Series by Jim Collins'. Free online blog that outlines investing 101 really well. I promise you will find it valuable.

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