401(k) employer matching question

[nOOky]

I'm currently putting in the max I can without the catch up in my 401K. Instead of the $7500 catch up I'm putting the max in a Roth and putting as much as I can in my HSA as I have that in mutual funds also. It's a high percentage of my income, but the wife pays all the bills. I also buy the I bonds at the max for both of us every year. I'm in my mid 50's and playing catch up for wasting too much in my youth, so fairly typical.

 

[Dr. Detroit]

6% match unlimited, Employee needs to contribute 6% in order to get full match. No vest. Match is deposited in my Fidelity account every pay-check.

My previous employer had a 0% match.

 

[brianmanahan]

Oooooh okay nevermind, now I understand what he was saying.

I was thinking the way my company does it in that they just contribute into it regardless if we do or not. It's not a match they just do it. But he's talking about a match, which makes sense now.

Thanks for clarifying.

yah we have to contribute all year, otherwise we miss out on some of the match

i'd seen people talk about this on finance forums where they accidentally lost thousands of dollars in matches because they hit their 401k limit early in the year

they do offer the after-tax contributions too which are useful for mega backdoor roth IRA, so i max out the 401k and also do as much after-tax as i can afford

 

[purbeast0]

yah we have to contribute all year, otherwise we miss out on some of the match

i'd seen people talk about this on finance forums where they accidentally lost thousands of dollars in matches because they hit their 401k limit early in the year

they do offer the after-tax contributions too which are useful for mega backdoor roth IRA, so i max out the 401k and also do as much after-tax as i can afford

Yeah I guess I never considered not doing equal splits on each check into the 401k throughout the year but I can see how some people would maybe needmore take home at certain times of the year.

 

[nerp]

Match every check. 100% match to 8 percent! No vesting period. Immediate. It's through Fidelity so I like to watch my money doubled every pay period. Now that I'm old and high income, I finally am not panicking about retirement and getting caught up nicely.