Your taxable wages will be 115k. Social Security wages in box 3 were always my gross income(150k in your example). Your 401k deductions have nothing to do with Social Security.
I am glad you're here
I have my chief financial officer and translator. To help me articulate what I am trying to say here
I am glad you're here
I have my chief financial officer and translator. To help me articulate what I am trying to say here
Now I have to go look up articulate. Thanks pal
Now I have to go look up articulate. Thanks pal
It's in the beer section
That's the only $3 word I can use in a sentence
Your taxable wages will be 115k. Social Security wages in box 3 were always my gross income(150k in your example). Your 401k deductions have nothing to do with Social Security.
Ok thanks for explaining that, appreciate the breakdown. Best funds to invest? Thoughts?
You aren't understanding what im trying to say.
When you put money in "after tax" you aren't receiving any tax benefit, paying income tax on the way in and tax on the gains on the way out as if it was a regular brokerage account, right?
Ok thanks for explaining that, appreciate the breakdown. Best funds to invest? Thoughts?
If you have Facebook join the UPS teamsters 401k resource group
When you put money in "after tax" you aren't receiving any tax benefit, paying income tax on the way in and tax on the gains on the way out as if it was a regular brokerage account, right?
Exactly
So why not utilize the roth option
Exactly
So why not utilize the roth option
Yep
Or the regular 401k if you will be near the next tax bracket.
Ok thanks for explaining that, appreciate the breakdown. Best funds to invest? Thoughts?
That is 100% incorrect
Social security is it's deducted from the groas, not from the net.
You have lots of homework to do young, jedi
I am paying attention also.
I've always had my 401K split 50/50 (but I'm not full scale or maxing it out)
If you have Facebook join the UPS teamsters 401k resource group
We need to get that dude an account in here. Facebook boooo
I am paying attention also.
I've always had my 401K split 50/50 (but I'm not full scale or maxing it out)
You don't do this all overnight.Baby stepsWith all it's going on with this company right now.I've definitely stash a little extra cash away.
Exactly
So why not utilize the roth option
Unfortunately our friend thinks the after tax contribution does what the roth contribution actually does because empower sucks and didn't describe it well
You don't do this all overnight.
Baby steps
With all it's gone with this company right now.I've definitely stash a little extra cash away.
We do, but it's still unsettling.
Yep
Or the regular 401k if you will be near the next tax bracket.
There was a balance, too many wild cars
Marked or single?
Dependents?
Don't your spouse have a good job?
No correct answer for anyone.
But why not play both sides of the fence
Some of these guys are getting all fired up about the trump exemption on overtime.But they need to read the bill.
We do, but it's still unsettling.
I remember that feeling from the strike of ninety seven
I remember that feeling from the strike of ninety seven
I just show up everyday and put in a fairs day work.
This community is highly appreciated tho, @badideaguy . It's nice to be able to share and learn.
Ok enough gay talk.
Unfortunately our friend thinks the after tax contribution does what the roth contribution actually does because empower sucks and didn't describe it well
Day 2 after retirement my money is outta there.
There is no reason to keep your money in there. Unless you want to do the rules of fifty five
I’ve done very well with my 401(k) and Roth 401(k) approaching seven digits.
I just show up everyday and put in a fairs day work.
This community is highly appreciated tho, @badideaguy . It's nice to be able to share and learn.
Ok enough gay talk.
It's a lot different than brown Cafe
Better..
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