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Hi All,
Has anyone joined Accenture early and recieved joining bonus.?
I have been recieving mail like if I can join in this month I will get bonus as well as notice period buy out amount reimbursement.
But they are not mentioning JB amount before I confirm them when I can join.
I have 11 fixed offer, how much I can receive JB if I join month early??
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I joined Tiger Analytics with CTC of 9lpa. When I check in greythr IT statement, it shows 7.14lpa.
In the CTC payslip, it shows 75k per month as my salary. But this month I got 61k.
I understand they deduct tax, but I feel it is too much. IDK where I'm losing the money. Can someone tell if this is normal. I'm a fresher so, IDK much about it.
Also, what can I do to pay less taxes? Any help on that?
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11/27 Thread (General):
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Imagine being an auditor lmao
Hi All, Today I've resigned and my LOD is 2 Sept. Can anyone please let me know for these 90 days salary would be credited only after FnF. Or June'22 salary will be credited as usual, however, July and September salary would be credited during FnF. Please confirm or suggest.
Regards,
HCL Technologies
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GME and AMC are not doing well today 😂
If you have cash that you want to invest. Please consider Treasury Series I Savings Bond (Electronic). Interest is 7.12% right now. While it's not guaranteed that the 7.12% will remain until next year, it's still a good deal.
My SO and I just invested 20k (10k max per person even married).
https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm
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The responses here are conflating two different benefits of 401Ks.
401k vs “investing yourself” implies the alternative to this tax advantaged account is to invest in a taxable account. Difference between 401K and taxable account is simple. Both have income taxes taken out (albeit now vs later). But 401K has no capital gains taxes while taxable accounts do. That amounts to 15%-~50% of any gain on any stock you ever sell, with the 15% being if it’s long term gains and the 50% if it’s short term and you are in a high tax bracket. This is why Informed investors generally max out tax advantaged accounts before investing in taxable.
The question of whether to invest in a Traditional vs Roth is the one a lot of people here are answering, but which i don’t think you asked. That is a question of whether you will have higher taxes now vs when you retire. If you are anywhere but the beginning of your career, it’ll be hard to know.
This needs more emphasis. My mom knows nothing about retirement savings. She's 64 and until Thanksgiving, she had all her 401k invested 100 percent in stocks, because that's how it was set up decades ago. When she told me, I immediately moved the majority of her funds over to bonds because her retirement was immenant. This meant I had to sell off a huge chunk of her stocks and rebuy bonds. Had this been done in a taxable account, she would have been hit with a massive tax bill. The 401k allows you to rebalance your funds over time, penalty free, as your retirement horizon changes.
At the end of the day, it’s your money. Invest it how you want to. You’re asking, people are responding, you’re replying with a very pretentious tone. Take the advice, or don’t take the advice. The beauty is that it truly is your decision.
You asked about the advantage of a 401k vs a taxable account. You make mention of the tax advantaged status of a 401k, which is THE reason why it's better than a taxable account, but still somehow don't understand how it's better than a taxable account, which suggests you don't understand what you're talking about despite stating that you do.
The reason the 401k is better is because you can put in pretax dollars. That means 401k funds are taxed once (on withdrawal) while taxable account funds are taxed twice (before deposit and on withdrawal). That's before mentioning other perks, such as tax free trades and dividends, that the 401k provides. Your 401k funds are mathematically guaranteed to grow faster than your taxable account, assuming you invest in the same assets. There is no "associative property of multiplication" that can deny this reality.
OP, let's use some mock numbers to illustrate the difference.
Let's say you have a $1000 paycheck and decide to buy an ETF that invests in the S&P500 over 30 years (assuming 8% annual return).
401k Method: No initial tax. So $1000 invested for 30 years results in $10k. Assuming 25% effective tax bracket at retirement, you'll need up with $7.5k.
Self investing method: Initial 25% income tax = $750 invested for 30 years results in $7.5k. Long term capital gains tax of 15% on the gains of $6,750 is $1,000. Final outcome: $6.5k.
$7.5k vs $6.5k is the final impact per $1000 paycheck over 30 yrs.
Thanks for the illustration - I just moved to the states, and didn’t know there was another capital gains tax on top.
I only said they’d be the same assuming tax rates were identical.
Delays taxes from high earning years to lower earning years (retirement), no capital gains from buying and selling like there would be in taxable accounts
Roth IRA, Health savings account, and with whatever is left some mega backdoor Roth if your firm allows it (after-tax 401k + convert to rIRA)
Roth IRA doesn't get you the tax advantage now but helps with timing esp if early retirement is on the table. Allows for a lot of tax free growth in an account with no RMD's
401k has two main benefits: it will decrease your taxable income now (pay less taxes now = can invest more or have additional disposable income now ) and compound more overtime (more money in the future)
The difference is about a 20% Delta compounded annually.
How long did this take to type
Also my firm’s 401K matching policy is garbo
Yeah - but going in tax free makes a huge difference that compounds over time
I misread the post, thanks for clarifying M1 :-)