So until recently I haven’t been financially able to contribute the full $19,500 to retirement yearly. After some budgeting, I went into my employer sponsored 401k, and realized that they cap my pre-tax contribution at 15%.
I make $120k 15% tax contribution is $750 per paycheck, $18,000 a year.
There is no option to go over 15%, or to do additional contributions.
Am I missing something? Shouldn’t I be able to contribute more than 15% to my 401k provided I don’t go over the $19,500?
Should I just toss the additional cash in a Roth instead?
Submitted March 25, 2021 at 05:57PM by spillitkins1 https://ift.tt/3vYdEIf
