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Message
401K Contribution Match
Posted on 1/5/11 at 2:06 pm
Posted on 1/5/11 at 2:06 pm
I'm getting close to being able to enroll in my companies 401k plan. They have a matching program that runs like this. Anything above 5% is matched at 4%. Would you go for the simple 3% contribution or top out at 5%?
YOU = MATCH
3% = 3%
4% = 3.5%
5% = 4%
YOU = MATCH
3% = 3%
4% = 3.5%
5% = 4%
6
Posted on 1/5/11 at 2:09 pm to Coast Tiger
put in the max match amount or more.
Posted on 1/5/11 at 2:36 pm to Coast Tiger
quote:
5% = 4%
It's free money. You just gave yourself a 4% raise. Congrats! Unless you are just dieing for cash, this is the only logical answer.
Posted on 1/5/11 at 2:37 pm to Coast Tiger
Match = free money...max that bad boy out
Posted on 1/5/11 at 10:21 pm to Coast Tiger
Put in as much as you can reasonably afford (within the IRS limit), as the tax exempt status is a hell of a "return" in and of itself....
Posted on 1/5/11 at 11:38 pm to Coast Tiger
Put in the 5%, then max out the Roth. If you still have cash left, enjoy..... 
Posted on 1/6/11 at 9:41 pm to Coast Tiger
max
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