KPMG EY can you all contribute after tax 401k dollars up to the IRS 61k limit?

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

Yes

like

If you mean that you maxed out the $20.5k portion, then yes you could begin doing after tax for the remaining $40.5k. Also, I was only answering that KPMG has after tax and not speaking for EY previously.

like

Related Posts

Would you move to a different city, pay 50% more in rent for more career opportunities and increase in quality of life?

1k -> ~1.5k in rent. Already max all accounts, 100k NW @26yo no debt - 100k income.

Living remotely in the mountains since I wanted to be outdoors all the time. After a year, I've hit my limit and want to go back into an office/bigger city to socialize more. Balancing between FIRE and living life now.

like

Have to start the process of selling the house in a few weeks. I want the house to be sold ASAP but cannot move out until April 30th. Should I wait to start selling. House is in a very good condition and should get sold fast considering neighborhood house are getting sold in 2 days.

Can someone please suggest how the process is and if I should first get the house deep cleaned and then call real estate agents or otherwise. First time selling. Any help would be appreciated. Thanks!

When you calculate net worth do you include the FMV of your house or just your equity in the house (FMV minus outstanding loans)?

like

Have CSR, ink preferred, Amex plat - any other cards with good sign up bonuses I should consider?

like

Anyone live or lived at Elan Madison Yards in Reynoldstown? Thinking about moving there, but the online reviews are mixed. Any personal comments would be appreciated! I’d also love any thoughts on the Avondale Estates area. Also getting mixed reviews!

like

Might be a dumb question... is there any way to refi and use the home equity to pay off mortgage?

like

Are you buying ETFs or are you putting your money in a HYSA?

like

When you spend way more than your non-front office friends but your savings are still higher at year end

like

how much should an NYC physical therapist in SNF setting make? I am fulltime with benefits but think i was lowballed. ive had 2 and a half years experience in outpatient then transitioned to this snf.

like

Tips for someone about to join healthcare FDD?

like

For those that choose to invest in real estate what is the approach on finding a good investment property to rent out? I would like to buy my first investment property but do not know where to start. Any guidance/ link it s really appreciated, thanks!

like

Am I nuts for wanting to buy a trailer /pre-manufactured home 🏡 in Golden Colorado?

likehelpful

Don’t know if this is the right bowl but I’ll give it a shot. Does it make sense to buy a boat? I’m 23, currently renting in the DC area. I can easily afford it but don’t have a SUV or anything to haul it. It would strictly stay in the water. I want one really bad and just miss being home In the summers and out on the boat with my friends. I don’t want to make an impulse decision but man I also want my own without derailing my retirement, eventual house down payment, etc.

like

I’m 30 & recently started a new job that pays $180k/yr. My first job paid $50k/yr so I haven’t built great habits and am looking for advice on how to best allocate my money.

Details of savings, cash flow, etc in comment but my main questions:
- Do I put more towards my student loans or mortgage?
- Do I open a brokerage account?
- Do I increase my cash savings for now?
- Do I do something else?

like

Is there an easy/efficient way to figure out how much you've contributed to vs earned in your Roth accounts? I started contributing >20 years ago to my employer's Roth 401k and have rolled it over to a Roth IRA and moved it between multiple custodians, e.g. Fidelity, Vanguard, UBS, Personal Capital, etc. It is unclear to me how much I contributed vs how much I earned by investing it.

The purpose of doing this is I want to use $10K of it, but want to prove that the $10K is from my contribution.

like

I have an interview next week for a Clinic Administrator. I’m nervous! Do you have any interview tips or questions that might help me? (I’m currently a Quality, Learning and Development Manager, so I don’t have Administrator experience but I do have a master’s degree in Healthcare Administration).

like

Best ways to redeem Amex points? Previously done jcrew gift cards but now jcrew is not available 😔

like

Hey all. I've got 30k cash to spend on a new car. Any feedback on the following 2017 Lexus rx vs 2018 acura rdx vs 2017 audi q5??

like

Hi Fishers,
Can you please help me with take home for below offer, Declared HRA for 96000 in investments.

Post Photo
like

Hello, I’m looking for help filing my tax information for a new job. I’ve been in nyc for close to two decades, and am moving from the city for a new job. I’m wondering what to claim.

like

More Posts

I really want to work in an office again. I like putting stuff on the walls, talking with people, the serendipity of things. I think it benefits the work. Who else is looking forward?

likefunnysmartuplifting

Let's play "kiss, marry, kill"
Choose from the following: hyphen, en dash, em dash.

like

Can anyone refer me at IBM

like

What does a day of an application security engineer at Microsoft look like? Will it be more aligned with cloud security? Please share your thoughts.

like

29 M - Any one in Montreal for a relationship?

like

What will be my monthly earnings after tax deduction ?
I'll invest 80C- 1 lakh & House rent- 96000
Please help !!
YOE- 4 yrs

Post Photo
like

Is it fair to say to my boss I’m going to wfh due to the awful BO from another person in the office?
I honestly can’t focus and makes me feel sick!

funnylike

Hi! Sitting on offers from Harvard and Cambridge for PhD. I was hired out of undergrad into Strategy, worked two years. Trying to decide if I want to 100% pivot to academia...any advice/suggestions?

like

മലയാളികൾ ഉണ്ടോ മക്കളെ

likeupliftinghelpful

Liquidated around $400K cash from old mutual funds at its peak in the last month or so....where do I invest now? Was waiting for market to dip....but no signs with the trade agreement.

like

With layoff news all over the place how is the scenario going to be with deloitte? They did layoffs during covid right but it spoiled their image will they do it again?

likefunny

Would like your advices. Awhile back I applied and was video interview for a position at a competitor. I suspect I wouldn’t get it based on the vibes they gave off. Now randomly I get an email from one of their recruiter asking if I was interested to apply for a similar position. Should I even bother? It might be with the same people.

like

Hey folks,

Anyone going to Vizag in the upcoming holiday week from Pune?

My boyfriend often makes jokes about other guys and how they interact with him. e.g. I might call him gorgeous, he might say “lots of guys tell me that.” I’ve gotten used to this humor...

How much should an agents salary be in insurance

like

I need help. Anyone have information of being an advanced medical support assistant for veterans affairs? I got offered a job in the SF valley . The pay Is a bit less but it's about 5.5 miles from my house.close. Why do people pray for government jobs? At the moment I'm with ucla health as an admin assistant float permanent& have been offered permanent placement at a site in LA about 16 miles . The pay seems pretty decent& also have the pension plan. Been here about 2 years no issues.

like

Anyone know of some good senior level PR positions in LA? Consumer lifestyle/entertainment preferred

As an ESL teacher, do you ever feel forgotten by your school staff when it comes to Teacher Appreciation Week? Not that I have to get something, but....

like

Hello guys, Tiger Analytics offered 14.5 lakh in-hand and 1.5 lakh joining bonus. Can u tell me hows the hike like at Tiger Analytics? How long does it take to get promoted?

ZS Associates guys do you think this is a good offer. Lateral associate here with 2.5yoe. I have a chance to get promoted to AC this year end(Dec 2022). Should I stay? Should I talk to my manager about this offer? Will it help in any way? Please help guys

like

Additional Posts in FIRE Financial Independence Retire Early

Mortgage strategy question: moving from HCOL to MCOL city, selling current house and buying a new one. Will net enough equity from the sale for up to 20% down payment. How do you think about mortgage rates, points, PMI, etc for the new purchase? I'm in favor of putting less down and investing the difference, but not if the terms are worse.

And I'm talking with both a broker and a credit union - is one better than the other?

like

Interested in what I’ve seen on this bowl, but know nothing about FIRE. Any recommendations of where to start learning?? Would love to get my wife and I onto something like this. We just paid off 42k in student debt in 2 years and are debt free now but buying our first time in September. Single income family, second kid on the way

like

I have 650k in invested assets (retirement + brokerage). Have a house overseas but i’m not including in the $ above. Wants to hit 1M in invested assets in 2 yrs once I hit 40. I have about 40k/yr expenses. wanting to shift to a less demanding job, yet fulfilling and I can have more control of my time. Doable?

like

People say it’s easy after you hit $100k but somehow I feel ’m just losing $$ from the money I’ve already put into the market and I haven’t touched it since September 2021. Should I still continue to max my 401k and add to the market monthly? What should I put my money into monthly?

like

I need to do a backdoor Roth IRA - A question I have is do I need to do the full $6000 contribution limit up front, or can I do a portion, convert it, and then continue to contribute throughout the year?

Also once it is converted can I contribute to that same account in future years?

Thanks!

like

Given the strength of the dollar vs the euro, could people purchase euros here in the US (banks/money exchange stores) and sell them later when the Euro becomes stronger? Is this possible/legal? I assume taxes would need to be paid on the gains? Never dabbled in Forex so please forgive the newbie question. This scenario just keeps running through my head when I hear the news. And I keep wondering why people arent doing this 😅

likesmart

PwC Is there a max contribution rate per paycheck to 401k / after tax 401k?

like

Mega Backdoor Roth IRA question/After-Tax contributions

Crosspost from a thread in the KPMG bowl discussing Mega Backdoor Roth IRA/After-Tax contributions. I wanted to ask a quick question for a “mistake” I may have made.

I forgot to change my contributions from after-tax to Roth + Traditional. A few paychecks went through as after-tax and hasn’t touched my $20,500 contribution limit for the year yet.

How will those funds be used/taxed? What are the implications here.

like

I am hoping to introduce a friend to FIRE. Any book recommendations?

likehelpful

People on here are so impressive! What resources do you recommend to get started with FIRE? Including basic things like figuring out my FIRE number. Any websites, books, even threads on Fishbowl?

like

side gig ideas during the pandemic?

like

How do I start building rental property portfolio so I can FIRE?

like

In my HSA I am holding 4% in ARKG and 4% in PBW (clean energy index). Both are down 50%... looking to consolidate my funds, so I am considering selling them both and allocating the 8% into something like XT? I understand I made those purchases in times of extreme optimism, so that is an F on my part.

My other funds in there are 64% VTI, 16% VXUS, 5% VWO and 7% EMQQ.

Looking to buy, hold, and DCA. Would you swap ARKG/PBW for something like XT?

like

What is your finacial routine. What you do daily/monthly to keep up with market, follow any resources online, review industry specific news, review your positions etc

like

I’d love to retire by 35. I know about the 25x expenses rule for a 4% withdrawal rate, but how does that account for 401ks that I can’t access until my 50’s? What about real estate?

I’m 26.
•$150k in 401k/IRA
•$220k in real estate (excl. primary)
•$88k in cash/brokerage
• the rest in HSA/primary home/other.

To calculate FIRE, am I only looking at the $88k that I can access readily? Real estate is cash flowing, but not sure how/if to factor in the equity.

Thanks in advance!

like

Can anyone recommend a good fixed income investment that I can add to my ROTH IRA account?

like

My S.O. has ESPP plan with 15 percent discount. Her company’s share price doesn’t vary much. Up or down. Thinking of taking the 15 percent discount and selling. Moving espp into an etf or something like that. Some tax implications but am I missing anything else? Immediate 15 percent gain excluding taxes and then better appreciation potential elsewhere. Thx in advance

like

I’m eyeing a single family home investment in Wicker Park Chicago for investment purposes (its a $1m+, 5 bed/ba and very cool). Talking to the realtor, he said that typical..

I just had dinner with some old friends and they are about to retire early. Part of their plan is to downsize their home, get a small condo and travel for 9-10 months a year. Does this seem crazy? I just can’t imagine it. I guess they figured the cost would be about the same but wouldn’t you miss the relationships. Wouldn’t your kids feel lost without having a sense of home? Anyone thought about this?

like