Thank you, wow, that means we could contribute a ton more, not sure if we can actually afford to fill it up, if it continues on the same path at the end of this year our contribution should be $8,226.
But he will also be paid a bonus, I think he is in line for meeting those goals and getting a bonus, last years bonus was about $17k, it came out to exactly 10k after taxes and everything was taken out. so that is a large chunk.
Anyone have any suggestions for what to up it to?
I am looking to max it out this year, we may be looking at a major job change within a year. Meaning probably self employed with a much smaller income, so we might not be able to contribute much to retirement while we ramp up a new business.