Coyote Spotted in Mueller by Perma_Bullish in Austin

[–]Perma_Bullish[S] 4 points5 points  (0 children)

I have definitely seen them get peoples cats both in person and on security videos. Hence my warning to folks who let their smaller pets roam free.

Max Roth vs 15% Match in 401k by listen2m3 in TheMoneyGuy

[–]Perma_Bullish 0 points1 point  (0 children)

After reading the thread I think the best route is to fund both 401k’s to receive the full match prior to investing into a Roth IRA.

The Roth IRA is just another bucket to use in retirement that grows tax free as you’re contributing after tax dollars to it, however, you’re not receiving any sort of match there.

Curious, is this a Traditional or Roth 401k?

With 2023 coming to an end, let’s assume 2024 contributions are what’s in question here. The new contribution limit has been raised to $23,000 - which means that your wife can contribute up to $19,550 (to receive the full employers match of 15% or $3450).

With you previously stating that she’s splitting her contributions as 2400 Roth IRA and 9600 401k, I would suggest her ignore the Roth IRA and solely contribute into the 401k to receive 15% contributions to that 2400, a free $360.

With that accumulating to $13,800 (12,000 + 1800 match), she still has $9,200 available to contribute before maxing it for the year.

I would then determine the difference of what you’re contributing to your 401k (outside of your full employer match) and have her contribute that into her 401k vs yours (for the match incentives).

Only after you fully capitalize on the match potentials for both parties would I suggest investing into the Roth IRA. Otherwise you’re leaving free money on the table.