max job one.I have 2x W2 jobs. Job #1 gross income varies 350-400k /yr. I contribute 401k in job#1 at 6% then employer matches 60% of this.
Job#2 gross income 40-50k/yr. I contribute 8% into 403b. The employer job#2 then matches 2% AND additional 2.6% (the latter of which I receive if I contribute or not). There’s also a 457b which I don't plan to use.
How does one figure out how to spread the yearly maximal Employee contribution $23500 across all this?!? I don’t want to deal with over-contributions hassles at end of year.
23500 + 60% = 23500 employee + 14100 employer
job 2 if they contribute without you contributing then don't contribute at all
50k x 0.026 = 1150 employer
total 38750. i think that would give you the most money and you wouldnt have to mess with making sure you dont over contribute. You would be forgoing a 3.6% match for a 2% match if you contribute to job 2.
also +1 for 457 if governmental. I'd max that too.
Statistics: Posted by RXfiles — Thu Dec 12, 2024 11:30 am — Replies 6 — Views 143