Author Topic: how's everyone setting up thier 401K contributions this year?  (Read 1034 times)

EliteZags

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how's everyone setting up thier 401K contributions this year?
« on: January 04, 2023, 10:12:23 AM »
$22,500 max over a standard 24 pay periods is $937.50/period, I'm considering something up to $1500/period or so that would max in about 8 months, mine's just Vanguard 500 index
Have some cash built up in MM and year end bonus coming which thinking to max backdoor Roth over the next month or two as well along with sporadic taxable contributions to VTSAX
« Last Edit: January 04, 2023, 12:14:50 PM by EliteZags »

ixtap

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #1 on: January 04, 2023, 10:56:41 AM »
Just make sure front loading does not negatively affect your match.

YttriumNitrate

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #2 on: January 04, 2023, 11:06:53 AM »
I adjusted mine to $937.50/period yesterday. Unless I'm planning on moving jobs within the year, I just make consistent contributions to keep things simple.

trc4897

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #3 on: January 04, 2023, 11:17:32 AM »
I usually aim to max out over 8-9 months. Then the last 3-4 months I invest into taxable. No specific reason I do it this way but it's habit at this point.

It does not affect my employer match at all, I would echo what ixtap said - double check that with HR.

PDXTabs

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #4 on: January 04, 2023, 11:46:59 AM »
I have 26 pay periods and already adjusted it for 22,500/26 = 866 per pay period (with slightly less out of the last paycheck).

I don't front-load my 401k for various reasons. One of those reasons is that I once worked for a company that got acquired part way through the year. The new company had a better match than the company that they acquired but they calculated the match per pay period.

ATtiny85

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #5 on: January 04, 2023, 11:47:31 AM »
I also have mine set up to max around October or so. The increase in limits from '22 to '23 far surpass any salary increase I will receive, so might bleed into one more paycheck this year since I use a percentage. My plan has true up, so no worries on match.

TomTX

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #6 on: January 04, 2023, 12:13:57 PM »
It's next in line after filling the 457 with $30k - which is being done with nearly my whole paycheck (net monthly paycheck was about $300)

Monocle Money Mouth

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #7 on: January 04, 2023, 01:12:14 PM »
I front load and contribute $1,000 per paycheck for the first 6-8 months of the year then do $500 for the remainder. I think this year I will have to do $1,000 through at least August. I would front load more and be done with it by mid year, but my company won't contribute their match unless I also contribute. I have to contribute for all 26 pay periods.

Silrossi46

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #8 on: January 04, 2023, 08:59:37 PM »
1875 per pay 24 pay periods.  457b utilizing 3 year double catch-up provision.  45,000 total in.

ChickenStash

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #9 on: January 05, 2023, 09:48:17 AM »
I'm doing my usual Limit/pay periods method. I round up a bit to make sure I hit the max, though. The last check or two of the year winds up being light on the contributions. My employer is switching to weekly pay later this year so I'll probably have to redo the amounts - I will be surprised if things "just work" after the switch.

simonsez

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Re: how's everyone setting up thier 401K contributions this year?
« Reply #10 on: January 05, 2023, 12:50:02 PM »
I have 26 pay periods and use $ instead of %.  $875 for PP1 followed by 25 pay periods of $865.

For anyone doing catch-up with 26 pay periods, one possibility is $1150 for the first one followed by $1154 for the subsequent 25.