Need help here on calculating how much I should be contributing to my 401k. My employer matches 20% of my contribution on a per-pay basis, up to applicable IRS limits. My question is, since there’s no limit on how much I can contribute, what is the recommended percentage? Right now I’m contributing 10% to my Roth 401k and from what I understand, the limit is $23k for 2024 (I am underage 50).
Also, is the $23k limit based on my contributions alone or mine and my employer’s contributions combined?
Last question, in the world of employment, how does my employer’s plan compare? Is it good, bad, mediocre?
Appreciate it.
Submitted February 21, 2024 at 10:53PM by Ambitious-Owl-8835 https://ift.tt/VKfZdse
