Fidelity confuses me. There are 4 things that I need to put in the "contributions" tab: Pre-tax % Roth % After-tax % Quarterly conversion of After-tax to Roth (Y/N) This is how I do the math: Pre-tax max for 2019 is $19,000, after-tax max is $27,500, and employer match is $9500, so the total is $56,000. Sum of pre-tax, roth and after tax percentages should be %65 to max out everything. Pre-tax percentage to max out for the match: 19000/56000 = %33.92 After-tax percentage: 65 - 33.92 = %31.08 Also I select "Convert all my after-tax balance to Roth". Is that what you do to max out all Pre-tax and Roth, or I'm getting it very wrong? Thanks for the help!
Tech Industry
Yesterday
3856
BREAKING: Internal sources confirm another round of layoffs just hit emails at Tesla. For real.
Tech Industry
Yesterday
1357
Is filling for divorce reasonable given my situation
Tech Industry
Yesterday
1266
The man I love hates me because I’m Vietnamese
Software Engineering Career
Yesterday
3172
L4 Google -> 45 interviews, 5 offers, AMA
Tech Industry
4d
43436
What happens when most of your team is Indian?
The percentages are based on your salary (and yearly bonus). So if your base is 100k you can put 19% to max out the pre tax portion. You should do some additional research if you want to contribute to after tax (and if you want to do a mega backdoor).
Also keep in mind that the limits are for a calendar year. So if you start contributing half way through the year you need to double the percentages to max anything out.
Yes. Note that Roth & after-tax contribution percentages are also based on pre-tax salary / bonus (not after-tax). Once you've reached the $19k limit on pre-tax / Roth contributions, you may want to increase your after-tax contribution amount (may help to max out that contribution as well). If you haven't already, consider looking into other tax-advantaged investment account types (IRA, HSA, 529) & ESPP contributions.