To max out 401k (hit 19.5k) and get max contribution from your employer, how do you calculate your contribution rate esp when you’re up for promotion

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

Calculate it before promo. Then afterwards, re-calc it.

like

Most plans will stop taking money out when you hit the annual max, or refund the difference between what you’ve contributed and the max so you don’t over contribute. It’s happened to me, it’s not really a big deal.

like

There are a bunch of online 401k matching calculators out there

I thought there is normally a box on your elections to only contribute up to the max.

Nope. At least I've never had this. Many companies however will cut off contributions when you reach the max. This is problematic if matching is per contributions and you max out early.

like

What FM1 said. Personally I like to slightly frontload my contributions. It forces me to be on a stricter budget that I end up sticking with. And it gives me comfort in case I get laid off or want to quit and don't have access to the 401k for several mo that whole unemployed or waiting for the eligibility period to contribute with a new employer.

Considering PwC matches on 6%, it’s a non-issue.

Either you make poor people money, and it’d be impossible to mess it up mathematically unless you can’t do algebra. Or you make so much that your comp actually becomes a factor, but at that point stop trying maximize the match because it’s not worth your time.

Related Posts

Hi Fishes, I recently got an offer from NielsenIQ. I want to understand a few salary components. Are LTA, Car fuel & Maintenance, Meal vouchers, and Internet expenses just for tax benefits, or are they given with salary?

It would be great help if someone can help me understand these components.

EY GDS India folks,

Got to know from HR team,

Variable pay will announced in 2nd week of August and pay out will be on the same month i.e August 2022.

Promotion/progression will be announced on 2nd week of October 2022 and hike will be effective from October pay out.

like

Is this a good deal or not. $93,600/year” “BENEFITS “ medical, dental, vision(30%60%90% after CYD) 80hrs vacation time after 1year of employment, it cannot be carried over year to year, nor will it be paid for it upon termination same for sick time which will be granted after 90 days of employment. Max 240 hours. Paid for the 6 holidays but if happen to work holidays will get paid 8 hrs for another day off during the same pay period. No 401k

like

What's the best single site for business of healthcare news, now and in general?

like

In retrospect, what a wasted opportunity for whoever was posting as Q to not do some pump and dump stock move in late October.

likefunny

Anyone ever take a taxable withdraw out their 401k? What was your reason for doing so? Knowing what you know now, would you have still done it?

like

How much percentage of your Salary do you Save/Invest?

like

Can someone recommend affordable health insurance? I left the firm earlier and am expecting a gap of medical coverage until I find a job. Currently not actively seeking either...

Indian Govt. won't recognise Bitcoin 🤦‍♂️

I’ve recently become a solo general counsel win CA. My company has facilities split between AZ and CA. Does anyone have thoughts on benefits of gaining bar membership in AZ as well?

like

Iam planning to join barclays, do we have health benefits for parents?? Any option to pay and get the benifits??

like

Asking for a friend: Looking for a referral to KPMG Advisory - Federal Healthcare Policy. 7 years exp + MPP + currently at BAH. Let me know if any fish want to bite 🎣

likesmartfunny

Any thoughts on PIC? The stock rose significantly in after hours on news of XL fleet merger. Does it still make sense to invest in it at ~$18?

like

1M net worth, 450k total comp, age 35, just paid off tons of student loans TONS, want to retire at 50. What’s the move?

like

We are buying a house and my knee jerk response was to look at a 30 year fixed mortgage (because that’s what I’ve always done). I realized last night that a 30 year mortgage might outlast me. Having a bit of an existential crisis now.

like

Still using Ally Bank savings account, but the APY had dropped to .60%. Time to move. Any recs on personal savings account? This is my emergency “savings”

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!

Graduating Ph.D. program 2021, received offer from tiny boutique for 140TC+random small boutique benefits. Would be better commute, non metro area closer to home. Waiting to hear back from well known life science boutique (think ZS, Clearview, Putnam). Offer would be for NYC office, would likely relocate.

If offer is given, a) at what $ is this worth and b) is brand everything for first firm out of school?

Also would the life science boutiques reasonably pay more than that?

like

I am in PDM Specialist/ senior consultant 1 &2. This is my promotion year. How do i conform the next title is PDM specialist 2 or the PDM manager?

What long term (30 years) inflation adjusted return can I assume for my financial planning? Dad was saying he thinks it’ll be 3% which seems insanely low

like

More Posts

Guys pls reply…
How is Impetus Leaplogic project for a data engineer ? In terms of technology used and WLB?

like

Hello everyone, can someone please help me with preparing for a case study for BA role in Eli Lilly? Any references or topics to cover would be very helpful!

I’m seriously considering eating dinner at 5:30pm. Does that mean I’m officially old??

likefunnyuplifting

Would you prefer complete salary transparency for all employees of your company (vs. opacity of today)? Why or why not?

like

Hello Sharks
I joined Barclays on 21st March.
I heard that salary day in Barclays is 24th, so will I recieve salary this month or will it come next month only.

like

Currently with PwC US and would like to move to PwC Australia for better work life balance. Anyone available to chat?

like

Hi all,

I joined FIS recently and I want to access outlook and teams in mobile. If anyone knows settings please DM me. It's something very urgent.

Thanks!

how in the world are people passing REG?? i just got to R4 and i feel like i legitimately know nothing like I’m doing quite horribly on all MCQs so far

like

BREAKING: Kevin Hart To Appear In Just 17 Super Bowl Spots This Year

likefunny

GF is 32 and I’m 28. She wants kids within 2 years, understandably. I never envisioned having kids that early (more like late 30s), but I like her a lot. Anyone else gone through something similar?

like

Curious to hear how others create a SOW for a video where the concept isn’t created yet. e.g. a startup asks for a proposal/estimate for a 60-second brand video with little input and a vague budget range. We’ll create the concept and produce it. My Co. seems to have challenges with getting the SOW right: either goes very basic or doesn’t scope enough because creative development is baked in but eats up time. How do you do it?

like

What is a go-to-market strategy?

funnylike

Just starting in cloud work, what certs would you recommend to start the learning process? AWS, Microsoft, Comptia etc…TIA!

How much does BCG / McK / tier 1 consulting firms pay its consultants on an expert track in Dubai office ?

like

Hello team,
I know that onsite opportunity at Oracle(non oci) is slim.
But if someone has got that opportunity, could you please share your experience?
Do they sponsor L1B for ICs who perform very well and impress the manager?
Apart from USA, has anyone got international assignment to some other country?

like

Has anyone’s agency developed a practice focused on social justice in the past couple months? Saw Praytell’s and was curious about if other agencies had too.

like

I'm having difficulties connecting with my team over Zoom, and I'm feeling lonely. Anyone else?

like

Does anyone else feel like they have become too utilitarian and objective?

like

Additional Posts in Personal Investment Chatter

Who’s buying the dip today?!

like

What long term (30 years) inflation adjusted return can I assume for my financial planning? Dad was saying he thinks it’ll be 3% which seems insanely low

like

Anyone have an HM Bradley referral they’d like to share w me? Feel free to PM me if you don’t want to post your referral link.
Thanks 🐠

like

Anyone used Merill edge guided investing?

like

Brand new to investing! Husband and I are 37, don’t have any investments other than the home we currently own. Sitting on atleast 100g worth of cash....

like

Auto rebalance (every 90 days) or manually rebalance as needed? I'd rather be more passive but willing to do it myself to save money. Btw if anyone ACN knows rebalance cost structure, please share.

like

Any one know the fees associated with transferring between Vanguard target funds, 2065 to 2055 for example

like

Deloitte Fishes, I am 38 and want to allocate my 401K. Based on review so far VTI seems like a good option but I don’t see it in the menu neither do VTSAX. Can you help me pick the right allocation?

like

How old were you when you bought your first home? How did you save for it/set reasonable budget goals?

like

Hypothetically, if BBB was delayed and brought to the Senate floor next year (let's say February 2022) and passed, and the January 1st date for ending Roth conversions is left unchanged, what would happen to Americans who performed After-Tax 401k to Roth conversions in January? Would 401k custodians have to reverse the transactions and somehow factor in gains earned in users' Roth accounts since the conversion? Could there be penalties?

like

Wish I listened to my roommate on Blue Apron. Up 115%

like

Marcus HYSA rate cut down to 2.0% :(

like

Anyone know about equitable advisors?

like

Ask = Any advice on how much I should invest in crypto and where to start? Background = 68K in a HYSA. 16K = emergency fund. I want to buy a car in December (for personal use and to put on Turo since I’m WFH) and I’m looking into renting a property that I can put on Air BnB. I am also looking into buying a vending machine. I currently max out my Roth and 401K. No HSA because I’m on my mom’s insurance.

like

Looking to open a taxable brokerage after maxing out Roth and 401k. It’s more so for a house down payment in 5-7 years. Can someone please provide insights on ETFs vs mutual funds?

Can someone tell me how to withdraw all funds from a 401k from a Merrill account? I know the implications, etc don’t need someone to give me the run-down. Legitimately want to withdraw everything

funny

Can we file separately as a married couple if I have already contributed to the IRA for 2020? IRA guidelines say married filing separately cannot contribute to IRA but well too late lol

like

Recently received 30k and wondering what to do with it. Not yet a homeowner but also not sure if we’re ready to buy anyways. Have a young baby. Any advice on how to figure out best use?

Diversification is for protecting the wealth but concentration is for creating. Agree or disagree?

like

Make 72k with not a lot savings at the moment since I am new in the workforce. Any advice on how to break into real estate.
Also already own a primary residence.

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