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Larsen & Toubro Infotech Hi folks, Please help me which organisation should I go with Citius tech or LTimindtree? As recession is approaching and due to which layoffs are going on as we all know so which one is more safe to join. Please share your thoughts, which will help me to take the decision.
For tech stack Azure Data Factory, SQL,Azure synapse, SSIS, ADLS with 7.5 yrs of experience. HCL Technologies Tata Consultancy Infosys Accenture IBM Larsen & Toubro Infotech Mindtree Fractal Citiustech Healthcare Technologies
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Rising Star
I make a 1% after tax contribution. A tiny amount but I’m a voracious spender so it’s easy to put away just a smidgen more and it makes me feel better about myself lol
Rising Star
I do backdoor IRA of 6k
Meet the max of pre-tax 401k which is 19.5k for 2021 I believe
Also do megabackdoor in-plan Roth conversion of after tax 401k of 500 per pay check
Not at D anymore - D doesn’t do megabackdoor. Check with your employer if they allow..
Do backdoor IRA first of $6k. Mega backdoor amount for 2022 is $61k (overall limit)-20.5k (individual pre-tax contribution limit)-employer contribution. Max of $40.5k but realistically less if you have an employer match.
Thanks
Rising Star
Use the after tax 401k to do backdoor Roth. Effectively it just allows you to contribute more Roth beyond the regular 401k and IRA limits.
I max out my 401k and use Roth in plan conversion. That is 19.5k for 2021. This gets me 6% IBM match, which again I convert to Roth.
Then I do post tax contribution, IBM allows up to 10%, but I be careful here not to max out employee-employer limit. Then I convert this also to Roth. I think this is called mega back door Roth. Not every employer supports this, but IBM does.
Lastly I do save 6k in each of my and my wife’s IRA using backdoor Roth.
You can tell I am a big fan of Roth. Also make sure to invest properly. I use a mix of low cost large, mid, small and international growth index funds. My plan is to become more conservative as I become older. But for now growth stocks are preferred for me.
Thanks
Does mega backdoor of 61.5 include backdoor IRA of 6K. Or you can do 61.5 K + 6K ?
Thanks