I understand in general its not a good idea to time the market, but the Corona drop seems like a great opportunity to buy low in your 401k and IRAs. ETA: When I say max out, I mean contributing the entire $19.5K 2020 limit into your 401k in the next couple of months and not contributing any the rest of the year.
There is usually a 60% of your pay check limit
19.5k per monthly salary? There should be other ways to find tax deduction. Just upped my contribution to 50% this month
Not per month. Per year.
No, because I would lose the company match for the rest of the year. Also I don’t think we have hit the bottom yet.
No, you won’t. You should check with your HR. As long as you fully maxed out while at the same employer, they will continue matching.
I did check - they will only match up to a certain percentage per pay period. Any amount exceeding that won’t get matched.
Yes! Recently maxed out contribution and moved 401k elections plus balance over to brokerage account so I did't have to eat more of the dip(moved to cash ~ Dow 25k). Now all deposits+match go to brokerage cash and are just waiting for my limit order buys to hit. Hoping for some more big drops! 🤞 S&P 2k , Dow 16k
Limit orders for what? ETF?
Nah.. blue chips with great balance sheets at depression prices basically. Orders don't execute until the stock goes below my limit price. I don't wanna be stuck in an ETF when/if the market falls out, no one buys them(liquidity issue as single stocks preferred during crisis)and you will be holding percentage of companies going bankrupt.
Hell no. Apple match is per paycheck
They don't true up?
You should ALWAYS front load contributions up to the company match. Do you not do that?
Oh shiet, I havent thought about doing this...
It’s gonna get worse in April
I have been maxing out on both for the past 15 years. Cost averaging.
No, I meant is anyone contributing the entire $19.5K limit into your 401k this month and don't contribute any the rest of the year.
Maybe 20% of that? You need really high base to be able to hit all in just 1 month, especially after tax roth 401k. Even if base is so high, it might be better to spread out Some of us already reached the limit in feb :( But have after tax 401K where following this approach