Stocks & InvestmentsNov 29, 2018
NewuhYr23
What to do with 401k if I joined Microsoft close to year end?
Just got into Microsoft which matches contributions. Any advice on contribution amount? Should I contribute all my remaining salary? Anything else if I'm enrolling in benefits now?
You need to know what their contribution timeframe is. Many companies you need to wait for 30-90 days before company will begin matching.
I had savings, so just maxed out my contribution and my current remaining monthly salary is close to nothing.
New
uhYr23 OP Nov 29, 2018Does microsoft immidiately start matching or there's a cliff?
Immediately
Few things to know - 1. You can’t contribute more than 65% of your paycheck I believe. 2. It takes one or two pay periods for 401k to start.
Set it to the max allowed!
Crank it to max. Get 18.5k or whatever the annual max is into there. Doesn't matter timing, you're dollar cost averaging with 401k along with removing tax liabilities for the year. Crank it up kid.