I was looking through the 401k Guide on the side bar but I'm not entirely sure if I'm doing this right. I'll admit I'm kind of new to this but I'm trying to sift through the guide to make sense of it.
I've been working with my new company for a little less than a year now & had some questions and wanted to make sure I was taking advantage of my 401k. I remember when I signed up, I had initially contributing something like 12% but when I mentioned it to a close friend, they said that was way too much for what I should be contributing. I made some adjustments on the site a few months ago but it's been sitting as is below.
Some of the details are below from my HR Guide and what I currently have set up. (My attempt at format below). I would really appreciate some feedback on this and I will gladly make some adjustments if I'm making any errors.
From my handbook:
- "Company matches 50 percent of each dollar you contribute to the plan up to the first 6 percent of your eligible pre-tax and/or Roth contributions."
- 401k + Roth Contributions: $18,000. 50% - After Tax 5%
My Current Contribution List:
Employee Pre-Tax 3%
Employee After-Tax 0%
Roth 401(k) 2%
Pre-Tax Sales Incentive Program (SIP)/Discretionary Day Payout (if applicable) 10%
Roth (401k) Sales Incentive Program (SIP)/Roth (401k) Discretionary Day Payout (if applicable) 5%
TLDR; How do I best take advantage of my 401k Situation?
Submitted December 20, 2017 at 03:53AM by kindalost http://ift.tt/2CM88vE
