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Author Topic: Max 401K, Roth, and HSA  (Read 3597 times)

3Mer

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Max 401K, Roth, and HSA
« on: May 09, 2015, 07:24:11 AM »
Yesterday I did some calculations with the help of the IRS withholding calculator and an online Paycheck calculator.  I realized if I increase my HSA contribution to max it out for the year, and adjust my withholdings due to the lessened tax, that my checks would only be about $100 smaller.

I am now contributing the max to 401K, Roth IRA and HSA for 2015.

My savings rate is now 74%.  Working hard to get to 75%!   

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ender

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Re: Max 401K, Roth, and HSA
« Reply #1 on: May 09, 2015, 07:47:30 AM »
Nice!

74% is pretty impressive.
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Trifle

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Re: Max 401K, Roth, and HSA
« Reply #2 on: May 09, 2015, 07:49:53 AM »
Very nice!!  Excellent savings percentage.  :)
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3Mer

  • Bristles
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Re: Max 401K, Roth, and HSA
« Reply #3 on: May 09, 2015, 08:02:41 AM »
I am including the company match on 401K, company contribution to HSA ($1200) - Is that cheating?
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minority_finance_mo

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Re: Max 401K, Roth, and HSA
« Reply #4 on: May 09, 2015, 09:34:43 AM »
Not cheating if these are vested and you own them!
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3Mer

  • Bristles
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Re: Max 401K, Roth, and HSA
« Reply #5 on: May 09, 2015, 10:12:17 AM »
Quote from: moe_rants on May 09, 2015, 09:34:43 AM
Not cheating if these are vested and you own them!
I just started this job in August, so vesting in 401K is 40/70/100 in 1/2/3 years.  The HSA is right away.  I guess I'm kinda cheating ;-)
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ThreadPacifist

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Re: Max 401K, Roth, and HSA
« Reply #6 on: May 10, 2015, 07:07:24 PM »
Quote from: BriarRose111 on May 09, 2015, 08:02:41 AM
I am including the company match on 401K, company contribution to HSA ($1200) - Is that cheating?

Technically, you're not fully maxing them if you're using the company match since that leaves $18,000-(your contribution) left to contribute. But a 75% savings rate is pretty badass, so I think claiming that you're maxing it is acceptable. Keep up the good work.
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3Mer

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Re: Max 401K, Roth, and HSA
« Reply #7 on: May 14, 2015, 10:23:31 AM »
Quote from: ThreadPacifist on May 10, 2015, 07:07:24 PM
Quote from: BriarRose111 on May 09, 2015, 08:02:41 AM
I am including the company match on 401K, company contribution to HSA ($1200) - Is that cheating?

Technically, you're not fully maxing them if you're using the company match since that leaves $18,000-(your contribution) left to contribute. But a 75% savings rate is pretty badass, so I think claiming that you're maxing it is acceptable. Keep up the good work.
I am maxing them.  The company contribution is on top of the $18,000.
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Exhale

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Re: Max 401K, Roth, and HSA
« Reply #8 on: May 15, 2015, 05:03:39 PM »
Quote from: BriarRose111 on May 09, 2015, 07:24:11 AM
I am now contributing the max to 401K, Roth IRA and HSA for 2015. My savings rate is now 74%.  Working hard to get to 75%!

Nice!

I've gotten mine to 75.87% and need to keep it at this level to stay on track.
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forummm

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Re: Max 401K, Roth, and HSA
« Reply #9 on: May 16, 2015, 03:54:34 PM »
Way to go! We've been pretty good about increasing our savings level over the past few years. The expenses just keep coming down a little more here and there.
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