Just started a new job and after doing some research found out they do not offer a Roth 401k. My choices are limited to a traditional 401k or After-Tax Contributions. After speaking with a friend who’s a CFP, he suggested I contribute only to the After-Tax, but I wanted to validate that advice here. If it helps I’m 24 and my current base is around 110k. Thanks in advance!

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

They’re separate limits and types. You should do up to your match max to get free $ and then do the megabackdoor, IMO.

like

Ok makes sense, thanks so much!

If you are single you are in the 24% bracket likely. That is a grey area and it may make sense to split it. I assume your after tax has the ability to be rolled into Roth right away?

Ok thanks so much, I’ll take a look to see if the plan allows rollovers!

Related Posts

Top benefits at Bank of America?

like

Have 20k, what’s a good small business to start with this fund? Serious question here

like

What are some of the things that were a MUST when buying your first home and what were some things that you were more flexible with and why? I’m having a discussion with my partner about what we absolutely need and what can be worked on later.

like

Okay guys give me a list of things to lower my taxable income. Make yearly with wife 200k.

like

I am joining JPM as a VP. Which brokerage accounts are permitted at JP for personal trading?

like

WHAT WOULD YOU DO?

Job A - no career path upwards, high functioning team, generous benefits and unlimited time off. TC 185

Job B - clear career path, new team, chaotic corporation, but lots of room for growth and budget to hire staff. Ok benefits. TC 220

Consultant making 75K. Can’t really save much after 401K and $1300 rent. Should I have more left over every month than I do? Almost $0 right jow

like

How much rent amount should I pay to get maximum tax deduction?

What are all the ways to save income tax?
CTC 9.8L

Anyone invested with QQQM or QQQJ? Thinking about splitting a chunk between both.

like

Hello ME fish - any suggestions as to where I could invest reasonably safely if I’m targeting a ~5% return (in USD/AED)? LIV used to be good with their 2% return but that’s decreased now, and I’m looking for a bit higher.

likehelpful

What do y'all do in healthcare?

like

Does KPMG’s federal healthcare advisory practice get Veterans Day off?

I am having a VTI vs QQQ dilemma. There seems to be a high level of overlap between their holdings. Is there a ratio between the two that I should target? Thoughts?

like
like

Are y’all waiting to do a mega backdoor Roth to see what they do about build back better this year or just moving forward with it?

like

Will mods hurt the resale value of a car? I'm considering selling my daily and am debating on whether or not I should put the effort in to return it to stock.

like

I’m considering taking an internal consultant role at a large healthcare company. I’m unsure if healthcare is the industry I want to be in. Would I be pigeonholing myself into that industry?

like

What are the benefits like at Rsm? Senior here

like

I just left my pre-seed startup that was running out of cash (we made $100,000 in revenue this year, and sunk $1m in costs). I was making $40,000 as a developer (plus 20k stock options at $1/share per year) and they refused to pay me any more money. I have 17,000 vested stock options, total number of shares at the time of my contract was 4million. I’m a bit confused about share dilution and if it’s worth it for me to buy some of my stock options… thanks in adv!

like

More Posts

Can anyone tell what could be the expected range of package for a lead devops engineer - yoe 12

like

Hi all,
I'm a DevOps Engineer with 6 yoe, current CTC is 22 LPA. If I make a switch, have much I can expect. I have worked on most of the DevOps tools.

like

Hi, Are there people here who have switched from being a doctor or dentist and went on and got an International healthcare management MBA (or just a standard MBA) and also have experiences from surgery/clinical side, pharmaceuticals, and bit of consulting? If yes, how was your transition? What were your starting roles and salaries? Thank you :)

like

Hi, am interested in applying to Putnam UK via positions shown on Linkedin. Anyone willing to chat or perhaps provide a referral? Thanks in advance!

like

Hello everyone! Our first series features key highlights from Scott West and Mitch Anthony’s “Storyselling for Financial Advisors: How Top Producers Sell.”

Join now to access upcoming webcast lessons

Post Photo
like
like

Did anyone else adopt the new Florida Wonders curriculum? We just adopted it this school year, and I teach 4th grade. My team and I have not found a good flow, schedule, or whatever you want to call it. We feel like it teaches too many skills in one lesson, and we are not able to truly teach anything “deep” enough for students to master. Does anyone have any insight? What do you do? Do you like the curriculum? Why or why not? Would you be willing to share what you do weekly/daily? Thanks!

like

Guess work must wait.

Post Photo
like

Which companies in Canada are giving remote opportunities in the insurance industry?

Has anyone done their H1B renewal in Canada? What was the process like and how long did it take to get your passport back?

like

Looking to move back to La in the Marina Del Ret area, any good apartment recommendations?

like

What is the best place to get a massage?

like

I am 34/f pakistani widow with kids...why are desi guys scared of marrying widows and women with kids?

For those working with admission consultants, how many drafts do you typically go through with them? When do you that it’s good enough / finally happy with the version?

like

Do titles in industry matter when exploring an exit? Which title seems better - Principal - Strategy or Senior Director - Strategy if everything else is equal.

like

Hi All,

I am looking for job switch. I have 7years experience in UIUX and 3.5 in Pega UIUX. I am currently working in LTI and I am available asap. Preferably remote or hybrid only. If you people have any references please let me know. Thanks in advance.

Bonjour à tous, Quel salaire pour un SA2 chez PwC ? Ça serait pour un transfert, d'où le côté précis de la deuxième année de senior. PwC

*KGS*
Any insights on this years appraisal ?
Service line : CH

like

I’m in real estate tax group and looking for good books about RE fund/investments/accounting during non busy season. Any recommendations? Thanks!

Additional Posts in Personal Investment Chatter

Just a discussion thread, but I feel like this is a good bowl to ask this. Does anyone else look at the vast majority of folks around you and think “damn, we are so over leveraged as a society?” Or am I just crazy?

like

Better to Airbnb out a rental or find a 12month lease tenant?

Are we allowed to trade crypto on TD Ameritrade?

like

Any advice on how to invest 150k? I’m looking to invest into a bucket outside of stocks and cypto. Ideally would like dabble in real estate (multi family) or a business however finding it difficult to find deals or investment opportunities in those area. Any advice or website recommendations on how to take this initial step?

like

What is the best way to get euros out without fees and at the actual exchange rate? Is it best to use an ATM at the destination or is there a better alternative?

like

GME and AMC are not doing well today 😂

like

Has anyone used individual citi wealth management account?

Any feedback on the same?

funny

I contributed 1k into 2022 Roth IRA and have realized I will be ineligible due to MAGI over the allowed 144k cap. What to do with the 1k? And what do people usually do with IRA once above the cap, back door?

like

I hope this bowl doesnt become just another WSB 😭😭😭 All I see are 🚀 and GME 😭😭😭

likefunny

Anyone invested with QQQM or QQQJ? Thinking about splitting a chunk between both.

like

I am having a VTI vs QQQ dilemma. There seems to be a high level of overlap between their holdings. Is there a ratio between the two that I should target? Thoughts?

like

My fiancé and I (ages 30 and 31) are about to buy a house. We would put down 10% for a 835k purchase price. Our combined income is $265k. We both have around 7-10k left in emergency funds (each) and combined about 200k for retirement. Our mortgage is $4,500 a month and we split a car payment for $800. Is this an okay financial decision or should we have bought a cheaper house/saved more?

likehelpful

Going from 20yr 3.25% fixed to 15 year fixed mortgage rate of 2.125%, non pints. Is this rate good enough in NYC?

like

When to sell at a loss?

I’m 26 and have a fair chunk of my NW tied to Cloudflare - a tech stock that I believe has the opportunity to 3x and become a $100b+ company over the long term. Similarly, I have a lot in cloud computing etf - WCLD.

Given short term rotation out of growth stocks, I’m confused on what to do. I think we still have some time before growth stocks bottom out, but do I sell?

I would consider myself a “long only” investor, but am unsure what to do given my lack of diversif

like

How do I legally gets my hands on $100k that my future wife wishes to hand me over for investment purposes (she is outside the US). We won’t be marrying for another two years. Thank you!!

likefunny

Want to buy a house in bay area? Is this a good time? Thoughts?

like

Considering adding a REIT index to my lazy portfolio allocation for my 401K and Roth Accounts. Thoughts?

like

I’m 26 and have ~40k sitting in my savings account. Annual income 140k. Maxing out 401k. No debt. Planning to invest 25k but don’t know where to start. Should I get a wealth manager? What is the best way to approach this?

like

I’m 32. I have $80k saved. $40k currently invested. Then ~$50-60k in 401k. My plan was to save for a house, but prices have skyrocketed. As life returns to normal...I need to now move out from my parents’ again. Do I bite the bullet and rent in NYC, or stay and save another 12-18 months and hope to buy something? Full transparency: taxes make it very difficult to buy. It’s not the down payment, it’s the taxes.

like

What are the best investment books or authors for beginners? What are the best podcasts, YouTube channels or bloggers to follow? What are your favorite stock trading platforms? And if you finally have six figures cash ready to invest, what's the best place to start? Which broker / financial advisor would you recommend? This is only for 3-5 years to ultimately buy a decent home for my family.

I'm clearly a dummy so any help is greatly appreciated.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
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

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal