I have more contribution on my Roth IRA than my 401k. The reason behind this I do actively trade securities under Roth IRA and mostly beat my 401k return,
You only maxed out the pretax/Roth limit. There is another higher limit for total contributions. You and employers contributions together. Limit is 61k last year and 66k this year. Plus 7k if your over 50. If you plan allows after tax contributions then you can keep on and still get matching
Please elaborate ? I didn’t think employer match was even considered contribution. In the sense of no matter what when I personally vested 7000 in my Roth then I won’t be able to contribute again.
@@CameronNotOneal 401k limits. This year is 23,000 for you 69,000 for you and employer combined. If you are 50 years old or older then additional 7,000 added to both limits. If you hit the 23,000 limit switch to after tax if your plan allows.
I would look into the stock/bond allocation in merill lynch 2055 as well as the expense ratio on it. The downside of any 401K funds is they're limited and more expensive than index funds.
I’m 53 of age and I have a fidelity 401k target 2035 .. the assets are Domestic 49% foreign stocks 19% Bonds 26% Short term 5% and Other 1% .. Employer match is up 5% , they match 100% of my first 3% and 50 % of the next 2% .. my contribution is 13% .. since I’m a late starter, is there anything I can do to make my 401k grow.. I’m looking forward to have something when I retire
Mafia guy, I'm in your boat and rowing as fast as I can. I max my 401K, that gets my full match(probably needs to be spread out over the entire year) and saves a ton on taxes. I then found out what my 401K had available to invest in. I found that the target fund was making about 3-4% a year. I then researched each fund available, what did the funds invest in, look for the funds "holdings" and then look for the % of return the fund has been making over the last 6 months, year and back. I chose tech funds and looked for the largest return. I found 3 funds, that after I researched and understood what and how they were invested I split it up 40/40/20. My return last year was 18.8%, not the best but a lot better than the target. A little scary at first but it was the first time I felt like I had some type of control. Good luck!!
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School often does not mirror real life
As you invest in 401(k) you also become a shareholder. And you have a vote. Do not give your vote to proxys, or to your broker.
How do you give up your vote to your broker?
How do we do this tho?
thats only if your companies match contains shares of said company, otherwise their just shares of stocks and/or bonds
We need to get a better understanding of my 21 year old sons 401k profit sharing offered at work. I put him in a roth ira because now he 401k eligible
I have more contribution on my Roth IRA than my 401k. The reason behind this I do actively trade securities under Roth IRA and mostly beat my 401k return,
The only person I’ve heard to make a return for 2020/2021 covid- How?
Great video! What percentage of contributions did u put into each category? Like how much % small, mid, large, and international?
For me just a little bit of everything except international. That’s just me tho
Would you recommend on investing in one growth fund?
IF an employer does not contribute to Roth, is there any advantage to it versus just putting it into an individual account in Schwab or something?
So I can only put about $200 in
You only maxed out the pretax/Roth limit. There is another higher limit for total contributions. You and employers contributions together. Limit is 61k last year and 66k this year. Plus 7k if your over 50. If you plan allows after tax contributions then you can keep on and still get matching
Please elaborate ? I didn’t think employer match was even considered contribution. In the sense of no matter what when I personally vested 7000 in my Roth then I won’t be able to contribute again.
@@CameronNotOneal 401k limits. This year is 23,000 for you 69,000 for you and employer combined. If you are 50 years old or older then additional 7,000 added to both limits.
If you hit the 23,000 limit switch to after tax if your plan allows.
Target date fund has high international like 20%
Great video. Thanks for sharing
Can you actually do tutoring how can we actually use 401 k account where and how we choose investments?
And who controls the education system? The federal government, hence its failure.
You're right.
Thoughts on a merill lynch 2055 vanguard allocation fund and going 100% in on something like that?
I would look into the stock/bond allocation in merill lynch 2055 as well as the expense ratio on it. The downside of any 401K funds is they're limited and more expensive than index funds.
Hi if I have 401 Roth can I still open ira Roth. Thanks
Yes. They are two separate things. Even if both are Roth
Great video
I’m 53 of age and I have a fidelity 401k target 2035 .. the assets are Domestic 49% foreign stocks 19% Bonds 26% Short term 5% and Other 1% .. Employer match is up 5% , they match 100% of my first 3% and 50 % of the next 2% .. my contribution is 13% .. since I’m a late starter, is there anything I can do to make my 401k grow.. I’m looking forward to have something when I retire
Mafia guy, I'm in your boat and rowing as fast as I can. I max my 401K, that gets my full match(probably needs to be spread out over the entire year) and saves a ton on taxes. I then found out what my 401K had available to invest in. I found that the target fund was making about 3-4% a year. I then researched each fund available, what did the funds invest in, look for the funds "holdings" and then look for the % of return the fund has been making over the last 6 months, year and back. I chose tech funds and looked for the largest return. I found 3 funds, that after I researched and understood what and how they were invested I split it up 40/40/20.
My return last year was 18.8%, not the best but a lot better than the target.
A little scary at first but it was the first time I felt like I had some type of control.
Good luck!!
My biggest regret was selecting a target date fund… i have moved to self directed
I struggle to understand this. Could you please tell me if it is better to manage all investment on my own or to follow the Fidelity 401k target?
Bro my yearly income is your contribution
Thanks.
You’re welcome!
Yes sir please
Hmm. This seemed like more generic advice, not really specific to 2023. I was hoping for some tips in light of the current inflation rates.