I’m fortunate enough to work for a company that provides 401k matching. However, they say “employer matching funds must be traditional according to tax code”. I’ve decided that due to my income (70k) I’m better served investing in a Roth at the moment. Because my company says they cannot contribute their match to a roth, only a traditional, I have a second fund consisting exclusively of their match.
I am terribly incapable of understanding how these things work, but would I be better served transitioning to a single 401k? Would this help my account grow faster or does it no matter since the contribution is the same? Also, is this standard for a company to not be able to contribute to a Roth 401k? I’ve never heard of that before.
Submitted August 13, 2023 at 01:49AM by BornSalamander8 https://ift.tt/JBHNmyE
