Getting full paychecks now, maxed out 401k for the year.

[Cougar]

  So, I noticed my last paycheck was the full amount of my after tax pay. I called the account admin for our company and he says that if I hit $18,000; they can't take any more out of my paycheck for the year because $18,000 is the yearly limit.

  So now i'm getting double (I put away 50%) my usual paycheck. I suppose I can put it in my vanguard or an etf, but i'm getting fully taxed on for the rest of the year.

  Still, I consider it pretty badass considering there was a story on zerohedge on 10/21 that 1/2 of the world has a net worth of less than $3,210.

[BarkyardBQ]

Congrats on your badassity. #MPP

Figuring out your tax liability and change your W-4.

[Gone Fishing]

Awesome! Have you maxed your IRA?

[dcheesi]

Do you have a company match for x%? My understanding was that maxing out early causes you to miss out on some matching dollars, since you're no longing paying in the minimum match percentage each pay period?

[Gone Fishing]

Do you have a company match for x%? My understanding was that maxing out early causes you to miss out on some matching dollars, since you're no longing paying in the minimum match percentage each pay period?

Just depends on the company. My keeps on going as long as my contribution setting would still qualify for the match.  Found out by accident though when I didn't project properly one year.  I had actually called prior to that and received incorrect information, so I wouldn't bet on anything!

[Mntngoat]

next year divide $18,000/ # of paychecks and adjust your 401K % according to keep getting equal checks all year long,  will probably give you more each pay period to save.

ML

[meadow lark]

My company match is done the following April, so there is no reason not to max it early.  And if you spend more around the holidays, it is very convenient to have more in your paycheck in December. 

[minority_finance_mo]

Awesome job congrats! My company actually matches 25% of all contributions regardless of when they occur. That said I space out my contributions so I max put exactly at the end of the year.

[Uturn]

My company actually matches 25% of all contributions

Can I come to work for you?

[minority_finance_mo]

My company actually matches 25% of all contributions

Can I come to work for you?

Tech company. Our benefits are killer, but we're known to have lower salaries than similar companies. There is no free lunch, unfortunately. (Except in the literal sense, as our office has catering.)

[Landslave]

Well done, grasshopper.  Keep that up and you'll be wondering what the poor people are doing.

Met a Unit Coordinator (the secretary of a hospital ward) a couple months ago who is a millionaire.  She never earned more than $25,000 in her career, but she saved 2/3 her take-home pay, mostly in a Roth IRA and later in a 401K.  She is 55ish and was about to pull the plug, except she can't figure out how to crack the health insurance nut.  She has even managed to buy a house with a split bedroom plan and two kitchens.  She keeps to herself in one end of the house and rents out the other 3 bedrooms, and has for 25 yrs.  She paid off the house in 10 yrs and put every dime of the rent into a Vanguard index fund for the last 15 yrs.  AND maxed out her 401K.  She is an inspiration.