Author Topic: maxed out 401k for 2019  (Read 429 times)

ysette9

  • Magnum Stache
  • ******
  • Posts: 4798
  • Location: Bay Area, CA
    • Insert Snappy Title Here (Journal)
maxed out 401k for 2019
« on: July 11, 2019, 02:39:34 PM »
I just noticed that my paycheck hit and for the first time this year it was actually a reasonable amount (4 figures instead of low 3). This means that I have officially maxed out all 401k space for the year. Woot woot!

Last time I went on maternity leave I didn't realize that 401k contributions are not deducted from maternity leave pay, and left some contribution space on the table. I made sure not to make that mistake again by extra front loading just to be sure. I'll be rolling in the dough from here through the rest of the year. $$

ohsnap

  • Stubble
  • **
  • Posts: 249
Re: maxed out 401k for 2019
« Reply #1 on: July 11, 2019, 03:53:01 PM »
That's great!  My husband's 401k gets front-loaded because he gets a bonus early in the year, so he earns about 1/3 of his annual pay by Feb 28.  With what the stock market has done since Feb, I really wish we had upped it so he would have been 100% done by then!  You are probably enjoying some nice gains. :)

solon

  • Handlebar Stache
  • *****
  • Posts: 1539
  • Age: 1818
  • Location: CO
Re: maxed out 401k for 2019
« Reply #2 on: July 11, 2019, 03:57:17 PM »
Boom!

JLee

  • Walrus Stache
  • *******
  • Posts: 5490
Re: maxed out 401k for 2019
« Reply #3 on: July 11, 2019, 04:19:48 PM »
Congrats!  I wish I could do the same, but my employer does not do a true-up for the match so I have to contribute all year or I lose out.

seattlecyclone

  • Magnum Stache
  • ******
  • Posts: 4805
  • Age: 34
  • Location: Seattle, WA
Re: maxed out 401k for 2019
« Reply #4 on: July 13, 2019, 07:39:55 PM »
Nice work! As I've approached FIRE I've both switched to part-time work and loaded up on all the payroll deductions. Between regular 401(k) contributions, mega backdoor Roth, HSA, health insurance premiums, and daycare FSA, I've been getting $0 net paychecks for most of the year.

FIREstache

  • Pencil Stache
  • ****
  • Posts: 627
Re: maxed out 401k for 2019
« Reply #5 on: July 13, 2019, 08:17:15 PM »
Nice job.  I maxed out my 457B including catch up and also investing in my 401a, but it comes out year round.

Next year, if I'm still on track to FIRE, I'm going front-load the retirement investments so that there's very little left to go into direct deposit.  I confirmed earlier in the year I could do that.  That will increase my savings and reduce my MAGI for ACA.