{ "media_type": "text", "post_content": "Do people front load their 401k contributions? I put in 30% for the first 6 months and then prorate up to the max for the last 6. Also, anyone know a way where we can put an explicit $ amount in instead of percent? I'd like to be at $19,500 to the cent at EOY", "post_id": "5fd90e443a5d5a0024150467", "reply_count": 45, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Do people front load their 401k contributions? I put in 30% for the first 6 months and then prorate up to the max for the last 6. Also, anyone know a way where we can put an explicit $ amount in instead of percent? I'd like to be at $19,500 to the cent at EOY

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Good idea- my understanding is that benefit plans don’t allow going over the max, i.e. payroll deductions would stop once hit max

like

Front loading is a successful approach if you do it everywhere because time in market is greater. However it subjects you to undesirable variability in each individual year. Doing it once is risky.

likesmart
Recent IconRecent

Some companies only match a max % of your paycheck, NOT your yearly contribution. You should know this before determining your investing strategy. At EY they auto stop at the limit and match based on your annual comp, not just a few % of the paycheck but at my previous employers that was not the case.

like

I upped my contributions during the market crash. Normally I do evenly throughout the year though

like

Why do you front load it?

As with all things, time matters. Dollar cost averaging is an effective strategy to mitigate against sudden downturns, as you buy more shares when they are cheaper than when they are more expensive. If you are investing for the long haul, however, the benefit of DCA over 80 Jan/Feb months vs. 480 total months is very low to zero. And the cost of that DCA “insurance” is about 4-5 months of compounding for every year - so over the long haul front-loading should prove to be superior. If they allowed it, I bet buying in Jun-Aug only (middle-loading) would be best to take advantage of the typical summer swoon. One last point, as you are going to be buyers of equities for your whole working life, be glad when they go “on sale”.

likesmart

I think there is already a hard stop in place once you hit $19.5k. I front load, and usually max out at the end of October.

I can attest the same - they stop taking out when you hit the max. It’s a nice Christmas bonus those last paychecks!

like

If you do this to the point where you’re contributing 0% the last couple months aren’t you losing out on a potential match?

I can say definitively that PwC is per check. If you aren’t contributing on each of the 24 paychecks each year, then you are leaving firm contribution on the table. (Op has already accounted for this, but just want to make sure people understand it’s different at each firm)

like

I did NOT know they auto-stop you at $19,500. Been annoyed with having to do the math for a couple of years. Definitely just getting it out of the way early this year.

I put my contributions for my bonus and paychecks at 100% to max it out and have the company match work for me asap.

do you guys also put in as much as you can for mega back door early in the year or do you use the year end bonus for that?

Definitely annoying... sorry to be the bearer of bad news haha

Related Posts

Anyone working with ITSS, do let me know about the company and benefits given to employee?@ITSS

like

Resigning while on paternity leave - should i wait till get back then submit resignation or can I resign while on leave and still get paid while on leave? Engagement will appreciate the advanced cont.

Any chance of Deloitte upping the fitness reimbursement to $1k to follow KPMG and now EY’s lead?

likefunny

My mom is going through a very bad situation with her previous employer who is not paying her her correct retirement benefits after screwing up their paperwork. She worked for a school district for about 15 years. She has a case but she is afraid it’s not high value enough to attract the attention of the attorney. School district is now ghosting her. If anyone has advice or interest, please let me know, thanks so much

like

Is wlb for consulting in UK (London) better than that in US? Trying to convince myself that the pay parity is worth it. Also, could you please help me understand whether the total long term col (inc healthcare, childcare etc) in London is less than that in a hcol US city (say NYC), and thus the saving potential is similar? TIA!

like

Does EY pay 100% for maternity leave 4 weeks before baby is due? I know they do 16 weeks post delivery but CA state law allows you to take 4 before due date. Anyone able to get it approved and paid?

likefunny

Has anyone heard of Kaufman Hall? What's the culture like? Reputation? A recruiter reached out to me about their healthcare practice and I can't find much online

like

What is the minimum amount of money you think you need to retire?

like

What are the equity benefits of being at Pdubs?

like

Can anyone share your experience /what you've heard about Kearney healthcare practice? 1) How's the exposure to pharma /biotech (as compared to pharmacies / consumer health) ? 2) How’s the hour? TIA!

like

Anyone receive an offer & negotiate a start date months down the road to take advantage of a better maternity leave policy, or any other reason? Wondering how many months is reasonable to ask for.

like

Do any other firms offer pension like EY does? And what are the terms? I know EY recently changed the retirement plan but we are still fully vested after 5 years

like

Besides pay/benefits, what are changes that happen when you move from a C to M levels? Do you have access/exposure to different tools that help you do your job/take on bigger responsibilities?

like

Hello, I've been working as a Healthcare Consultant for over 4 years now & I am currently a Consulting Manager near the Philadelphia area seeking an opportunity in NYC. Anyone know anything avail?

like

I hate having to ask this question but I know a stigma exists around it: is it okay to look for/start a new job while trying to plan for a new child? If I start at my new job now, I will definitely be leaving for maternity leave before my first year is over. Perhaps this has been asked before but I’m new here and looking for some advice.

like

I'm sorry if this is out of place, but is anyone interested in coming on my veteran podcast? I work for a Nonprofit Organization that provides supportive services to veterans in CA, NV and AZ and our podcast discusses issues relevant to veterans. I'm organically searching for veterans who are willing to talk about their experiences, mental health and healthcare, employment, case management, housing for the homeless, etc. We don't require you to be an expert on anything.

like

401k or Roth IRA? Should I be prioritizing the Roth IRA first when I'm younger? Even mix?

like

Feeling like my firm has a very outdated parental leave policy (and none of the women partners have children)! What is the parental leave policy at your firm? Please include: (1) size of firm; (2) location of firm (city, state); (3) how many paid weeks off from firm (not state/fed benefits); (4) other policies such as ramp up/down time, etc.

like

I'll be joining the consulting world very soon and am thinking about getting a new personal credit card. My meal expenses are per diem so I'm thinking about the AmEx Gold card as it has 4x points on dining. I was wondering if anyone had any suggestions on personal cards for consultants and how to go about my corporate card as well! TIA

likefunny

put 6K into my roth IRA, just want to dump it into a few ETFs and forget about it until i’m old and wrinkly - what should i go with? VOO? QQQ? thank you in advance for helping me retire!!

like

Additional Posts

Anyone have any insights to the accelerated MBA program at Kellogg? Interested to hear experiences and if it’s worth it over the traditional two year MBA

like

I’m a CPA/FA and want to sit for the CFP exam. When I took the CPA I used CPAExcel and I loved it bc it broke down the material into “bite sized” lessons. Anything like that for CFP? Continued..

like

Is it worth it to get an executive mba if I’m not working in the field I want while I’m getting it?

like

If your H1B transfer is filed before your grace period ends, but you don’t start the new job until a few weeks after grace period ends - does that count as out of status? Has anyone been in this situation?

like

When this is over, imma need a 3 day holiday to catch up on happy hours, house parties, and hang overs

likefunny

Thinking of going to bschool. What is the starting salary and guaranteed bonus for a senior consultant coming out of bschool at MBB vs Accenture Strategy vs Deloitte S&O?

like

Interviewed at a firm early last month, and about a week later, they told me they were facing hiring restrictions. Would it be OK to maintain communication and check in?

like

Hi folks, Does anyone have a referral offer for 1 year experienced Associate Consultant/Business Analyst. Help would be much appreciated. Thanks

like

Southwest flight attendant— first inflate your own life jackets and then help your kids. . . . If you you have 2, pick your favorite 🤷🏻‍♂️

likefunny

People who came to the US on L1B, and successfully switched jobs (assuming visa switch from L1B to H1B), could you please share your experience or provide any useful tips? Feeling stagnant and trapped at my current job partly due to visa restrictions and ofcourse the pandemic situation. Looking to jump ship but not even sure if it's possible on an L1B.

like

Hi! For US citizens traveling back tonUS from Canada, what type of COVID testing is done and where can it be taken from? When can we do the booking and how long before the flight should we take the test?

like

For the past 2 months I have had trouble accessing any non-client or company websites. I thought the client was blocking me. Turns out it was "Websense" that the company installed that was blocking me

like

Help - If I get my H1 visa stamping (new) in India this Dec, can I go back in February 2018 or are there any conditions as per which I have to stay in the US for a certain period of time?

Have an offer from an IBank but don’t want to switch. Salary is 3x my current - how should I leverage it? Will they fuck my case for future promotions if I do leverage it?

like

Hi everyone, I need your advice. I've been interviewing with MBB and Tier 2 firms over the past few years. However I was never well prepared for case studies. I now decided to take 6-8 months and seriously prepare for cases/mental math and try them again next year. I currently have Victor Chengs book and few others. What else would you recommend for me? How can i lay out a plan to study? Any source you can recommend free or paid?

like

Is the salary for an early promotion the same as if I wasn't promoted early?

like

With the long-weekend, lets do a book thread. Give me your favorite sales book - here's mine - How To Win Friends and Influence People

like

I used to be passionate about my firm’s people. Loved coaching junior folks and paying it forward with all the great mentoring I received early in my career. But my firm’s values and senior leadership priorities have incentivized a purely numbers vs people culture. It’s made the job so much less fun and personally fulfilling. Anyone also struggling with this and any advice?

likesmart

Anyone here work at Amazon? Hoping to learn more about the culture and if you enjoy working there. Would anyone be willing to share experiences or chat?

like

Which offer would you choose? 1) $135k, 1900 billable hours, formidable and growing mid-sized firm in the city; or 2) $145k, 2000 billable hours, biglaw but not a prestigious one?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal