Contributing 80% of salary to 401k to max it up before the year ends?
Oct 28, 2021
7 Comments
Contributing 80%-100% of salary to 401k to max it up(in November, December) before the year 2021 ends while using my savings for rent, food, etc. for 2 months.
Does it makes sense do that for the future to take advantage of compounding returns?
I already maxed out Roth IRA, also invested in regular brokerage account. I’ve been already contributing to 401k this year just enough to get full amount of the quarterly employer match so I’m not missing on that. I have at least a year of emergency fund in cash as well.
#personalfinance #investments
TC: 130k
comments
I am int the same boat, looking to contribute enough of my salary to Roth 401K to max it out for the year and also to After-Tax , so that I can move it into Roth IRA.
Looking for advice.