My paycheck had a little extra in it this cycle. Looking at the statement, it shows my usual 401k amount wasn't deducted. I've made no changes to in Fidelity. What could cause this?

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

I also actually believe you are honestly asking a question and the responses have all been very helpful. This is very different from the obnoxious “jeez, I made $250k and already maxed out all my contributions and now have $80k in cash just laying around my four empty bedrooms. What should do with this cash to achieve an 18% return?? Or should I pile it on the floor and sleep on it? Thanks."

likefunny

I would say that is a really good problem to have. In fact I wish I had the same problem so good job. 👍

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If you’re putting away 18,500 into a 401k and don’t know the difference between Roth and traditional ... I’m impressed. (Because I assume you’re young or would know the difference).

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OP, looks like no one told you how to check how much you put in. Check your pay statement under the YTD contribution — if it’s less than $18,500 (the max) something else is going on

likehelpful

I'm honestly asking. I've been reading nerd wallet and smart invest blog articles but there is so much info on there. I work in tech so I really don't know anything about finance. Trying to put away s much as I can before I have serious commitnents and all that. I'm really grateful for all the help and the answers.

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Also EY1, you're hilarious!

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I should clarify, an amount was deducted but much lower than what I opted for and is usually deducted.

M1 how do I check? When does the year reset./restart? 1st Gen college grad so nobody in my fam has a 401k. Thanks for all your replies

Also if I maxed out, where else can I invest to lower taxable income?

You can create an IRA if you are under the income threshold. Check out the r/personalfinance subreddit. Lots of helpful folks in that community.

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You can set up a (1) traditional IRA + (2) Health Savings Account (if you have a high deductible health plan) to also lower taxable income.

PDubs, thanks!! Why traditional and not Roth?

Come January paycheck and no catch up amount showing.

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