401k 2021 $19,500 max

Amazon
BAlp67

Go to company page Amazon

BAlp67
Oct 15, 2021 14 Comments

Once your 401k hits the $19,500 max for the year, what do you normally do?

My brokerage is Fidelity and I was hoping there'd be a feature to reallocate the contributions to avoid tax penalty automatically or even a warning...

TC: 300k
YOE: 4
Location: Bay area
Contribution: 20% until annual max (all in Roth)

#personalfinance #investments

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TOP 14 Comments
  • Amazon
    e3u7

    Go to company page Amazon

    e3u7
    You won't be allowed to over contribute at Amazon. It just stops at the cap. But consider doing 10% for megabackdoor, call fidelity to automatically setup the conversion.
    Oct 15, 2021 5
    • Viacom
      ECyg62

      Go to company page Viacom

      ECyg62
      You have to call fidelity?? I saw an option in the UI. Is that insufficient?
      Oct 16, 2021
    • Amazon
      AzmBlm

      Go to company page Amazon

      AzmBlm
      You don't have to and yes it's just in the UI - I didn't know it was an option since my past employers didn't use fidelity, so they told me to check the contribution page
      Oct 16, 2021
  • Your 401(k) plan documents who's responsible for ensuring no overrage. It's usually up to your HR
    Oct 15, 2021 0
  • VMware
    tcpd

    Go to company page VMware

    tcpd
    YOE?
    Oct 15, 2021 1
  • Google
    66GXvk

    Go to company page Google

    66GXvk
    You can put it into IRA after that which grows tax free.
    Oct 15, 2021 0
  • New / Finance
    clarab3

    New Finance

    PRE
    6AM Health
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    Introvert
    clarab3
    You could make a great return on crypto. There’s risk involved of course but If I were you I’d take out the $50k buy USDC and stake it for 60% APR.
    Oct 16, 2021 3
    • New / IT
      rdc5

      New IT

      rdc5
      I think that’s should be with the binance staking pool, profits from their pool can go up over 500%. been staking with their pool for over 3 yrs now.
      Oct 17, 2021
    • Apple / IT
      GnTP45

      Go to company page Apple IT

      GnTP45
      Don’t believe he/ she may be pumping this . Saw comments on blind on other posts.
      Oct 17, 2021