I’m not wonderful with this type of stuff but I have been trying to get into investing.
My employers match is 4% on my 401k but I did 6% and did 3 in traditional and 3 in Roth. No idea if this is the best idea, at my last employer I did it all in Roth. It suggested I do 10-15% but that was a lot.
Next thing is around investing - I have a vanguard account and wanted to invest in whatever the s&p 500 is. Am I correct that it’s okay to have a vanguard ETF account AND my 401k ?
Thanks!
TC: 235k
#401k #investment
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(a) $19,500 of your salary to 401k (either pre-tax or Roth). Amazon matches 50% of this, up to 2% of your salary.
(b) 10% of your salary to mega backdoor Roth 401k.
(c) $6000 to Roth IRA backdoor.
Or if you plan to die young instead of saving all of your money for when you're too old to enjoy it, feel free to cut back on some or all of (a)-(c) and buy that brand new Tesla.
Amazon does offer mega backdoor Roth, though it's capped at 10% of base salary.