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401k Contributions...

Discussion in 'Money & Finance Forum' started by VA49er, May 17, 2007.

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  1. May 17, 2007 at 1:27 PM #11
    slydevl

    slydevl Asshole for the People!

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    I understand this. Its easy to up what you save in a 401K so people just up their withholding because it is automatic.

    However, every financial advisor will tell you to withhold enough to get the free money from your employer in your 401K and then max out a ROTH to diversify your future tax liability before upping your 401K withholding above the matchable %.
     
  2. May 17, 2007 at 2:27 PM #12
    meatpile

    meatpile 7-9

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    Apparently, in 2008, you'll be allowed to roll an IRA or 201k into a ROTH without penalty....
     
  3. May 17, 2007 at 2:47 PM #13
    VA49er

    VA49er Full Access Member

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    201k?
     
  4. May 17, 2007 at 3:02 PM #14
    slydevl

    slydevl Asshole for the People!

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    Yep, and that can help if you are above the ROTH income limit just requires the extra step of opening the IRA first.
     
  5. May 17, 2007 at 4:25 PM #15
    Southern_Yankee

    Southern_Yankee Full Access Member

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    I put in 5% and The Plantation used to contribute 3%. Fuckers stopped matching anything 1/1/07. :smack:
     
  6. May 17, 2007 at 4:32 PM #16
    VA49er

    VA49er Full Access Member

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    What the hell is a 201K?
     
  7. May 17, 2007 at 4:41 PM #17
    Southern_Yankee

    Southern_Yankee Full Access Member

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    a typo ?
     
  8. May 17, 2007 at 4:48 PM #18
    kshead

    kshead What's the spread?

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    It's like a 401K but it's only for old money people.
     
  9. May 17, 2007 at 4:54 PM #19
    VA49er

    VA49er Full Access Member

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    That's what I'm figuring.
     
  10. May 17, 2007 at 4:55 PM #20
    VA49er

    VA49er Full Access Member

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    Wonder how they'll handle the whole tax issue? 401k contributions are pretax while Roth contributions are after tax.
     
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