So, I thought I was contributing to both my 401k as well as to a Roth IRA. When I looked at my end of year paycheck I noticed that the Roth contributions were over 5500, I was kind of frustrated that my company didn't cap the contribution automatically for me, so I called my retirement account company only to find out that I was contributing to both normal and ROTH 401k.
Luckily, my vanguard account that I opened up earlier this year, and just sold some stock in had enough money in it, that I quickly opened an IRA, and transferred 5500 into Roth to max out 2016's contributions.
If you screwed up like me, you have until April 17th to fix it.
Submitted January 18, 2017 at 12:02PM by Eradiani http://ift.tt/2jLdYEV
