401K

Facebook / Mgmt
GYpc28

Go to company page Facebook Mgmt

 GYpc28
Jan 17, 2020 8 Comments

I’m joining Google as a project manager. What’s your suggestion on 401K? At Facebook we use Fidelity. Do I need to take any action? #401k

YOE: 16 | TC 300K (including bonus and RSU)

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 TOP 8 Comments
  • Google
    bighead2

    Go to company page Google

    bighead2
    At Google, max it because of generous company match. Then do after tax contributions for mega backdoor Roth.

    Regarding your FB 401k, you could leave it there or roll it into Google (uses Vanguard). I'd recommend against rolling it into an IRA because that could mess up your ability to do backdoor Roth
    Jan 17, 2020 0
  • Boeing
    chodia

    Go to company page Boeing

    chodia
    Put IRS max $19500 if you don’t have any outstanding debts, etc.

    Warren buffet said it’s about 20-25% savings on tax if you plan it correctly. That means if you were to invest in your brokerage acct, you would have to be at least 20% up just to break even with the tax advantage.

    I believe Google also matches like $9000 or something like that
    Jan 17, 2020 0
  • Amazon
    aaMz62

    Go to company page Amazon

    aaMz62
    Rollover IRA from your older 401k, then maxout your new 401k
    Jan 17, 2020 3
    • Amazon
      aaMz62

      Go to company page Amazon

      aaMz62
      Hm, maybe I should have done it in another way, its ok for now though
      Jan 17, 2020
    • Apple / Eng
      wambam1234

      Go to company page Apple Eng

       wambam1234
      It’s just a matter of paying taxes proportional to how much you have in a tax deferred IRA when you do the conversion for backdoor so it’s not a death sentence. I just find it easier to keep 401k in a 401k assuming your administrator isn’t some terrible one with horrible fees. Since we’re all talking about FAANG I assume we all have reasonable fees and fund selections.
      Jan 17, 2020
  • LinkedIn / Other
    lifestrat

    Go to company page LinkedIn Other

     lifestrat
    What bighead2 said
    Jan 17, 2020 0
  • Rollover if needed, easier to manage
    Jan 17, 2020 0