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Things you just don't get - Page 1457

post #21841 of 24079
Quote:
Originally Posted by brokencycle View Post
 

Many of my coworkers turn off their 401k contributions for the paycheck that has our bonus in it.  I don't understand this.  The company matches 1:1 for 5%, so they're giving up an extra 5% on their bonus (plus the extra taxes).

Yup, they're losing the free money for no reason. i actually prefer to put most of my my bonus away - less temptation for me to spend.

 

Quote:
Originally Posted by otc View Post

Maybe they are already maxing their contributions and thus taking it out of the bonus check will make it so they max it before the end of the year?
Can 401ks max? I thought it was a solid % no matter what. I know Roths can max though for sure

Edited by venividivicibj - 3/24/16 at 9:45am
post #21842 of 24079
Quote:
Originally Posted by otc View Post

Maybe they are already maxing their contributions and thus taking it out of the bonus check will make it so they max it before the end of the year?

Not sure why that's bad though... I love how my paychecks grow by the end of the year as things get maxed out/phased out.

 

I assure you these people aren't maxing their 401k contribution.

post #21843 of 24079
401ks absolutely can max out at $18k for the year. If you hit that say by June or whatever, the deduction will no longer hit your paycheck. Hence, bigger paychecks for otc as he hits his max.
post #21844 of 24079
Quote:
Originally Posted by GreenFrog View Post

401ks absolutely can max out at $18k for the year. If you hit that say by June or whatever, the deduction will no longer hit your paycheck. Hence, bigger paychecks for otc as he hits his max.

just shift to a roth for the rest of the year then?

post #21845 of 24079
Some people don't qualify for Roths cry.gif
post #21846 of 24079
Quote:
Originally Posted by HRoi View Post

Some people don't qualify for Roths cry.gif

 

I'm going to guess most people maxing out their 401k contributions don't qualify for Roths.

post #21847 of 24079
TIL dat DINK of HRoi household earns $183,000 +

😱

Do cap gains count as income against the Roth income limits?
post #21848 of 24079
Quote:
Originally Posted by GreenFrog View Post

TIL dat DINK of HRoi household earns $183,000 +

😱

Do cap gains count as income against the Roth income limits?

 

Do capital gains go towards your AGI?

Also, hasn't HRoi made posts mentioning or implying he has kids?  Maybe I'm confusing him with another poster now...

post #21849 of 24079
Are the income limits pretax or post tax? (Because Roth are post tax deposits....)
post #21850 of 24079
Quote:
Originally Posted by venividivicibj View Post

Are the income limits pretax or post tax? (Because Roth are post tax deposits....)

Pre-tax, I'm pretty sure.
post #21851 of 24079
Roth and trad IRA limits are based on AGI.
post #21852 of 24079
Quote:
Originally Posted by Piobaire View Post

Roth and trad IRA limits are based on AGI.

Only because that's how the privileged patriarchy wants it!
Sorry, wrong thread.
post #21853 of 24079
Quote:
Originally Posted by Piobaire View Post

Roth and trad IRA limits are based on AGI.

 

Yes, that was the rhetorical point I was making to GF.

post #21854 of 24079
Quote:
Originally Posted by brokencycle View Post

Yes, that was the rhetorical point I was making to GF.

I was pretty sure you were making a "point" for GF; thanks for confirming...

uhoh.gif
post #21855 of 24079
Never thought about it before, but does the 401k cap include the employer match? I'd assume it does. I'll be pretty close to that next year, need to check on this...

$183,000 AGI is pretty decent if you've already maxed out your 401k.
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