How much you should save in 401k

[pumpkin]

6 minutes ago, Spartan said:

yes

we can deduct roth in our tax returns right ?

[Marsmangalodu]

1 million

[Chakram12]

401K ante Ee chiti uncle anni vadilesi vachesthaduga

[AlaElaAlaEla]

2 hours ago, InSearch said:

10% ? 20% ?

default thumb rule is always max out your contributions 18.5k$/yr...you will save money on your taxes (straight away profits) and returns on investment

[TensionNahiLeneka]

inkoka question: 18,500 anedi, mottam manadi and employer contribution kalipi aa?

or just manade 18,500 and employer contribution extra na? 

[AlaElaAlaEla]

Just now, TensionNahiLeneka said:

inkoka question: 18,500 anedi, mottam manadi and employer contribution kalipi aa?

or just manade 18,500 and employer contribution extra na? 

just neede 18500$, employer match kooda unte, pandaga

[TensionNahiLeneka]

4 minutes ago, AlaElaAlaEla said:

just neede 18500$, employer match kooda unte, pandaga

so suppose 100k salary ante, 18,500 manadi, and 4,500(if it is 4.5% match) employer, mottam 23K save cheyyocha year lo?

[AlaElaAlaEla]

1 minute ago, TensionNahiLeneka said:

so suppose 100k salary ante, 18,500 manadi, and 4,500(if it is 4.5% match) employer, mottam 23K save cheyyocha year lo?

[TensionNahiLeneka]

6 minutes ago, AlaElaAlaEla said:

super, inka next year pichekkista. 

[TheCompleteMan]

@Spartan

Bhayya here is my question. Could u answer?

let's say naku 100k vastunnay bhayya. ma employer 10%  varaku match chestadu, nenu oka 10% contribute chesta.

Say I stay in US for 3 years and decides to go back to India for good by taking the money out from 401K.

How much money will I be getting on hand by taking taxes & penalty out.

 

Year   My Contribution  Employer Contribution  Return on investment

1         10000                      10000                                   0

2         10000                      10000                                    1600

3         10000                      10000                                     3328

 

Total amount in my 401 K is 64928

you said tax bracket is 22% so that will be 50643

How much is the penalty I have to pay?

And my main question is..

  What if I chose to not to contribute at all to 401K.. will there by any advantage in 3 years money wise.

[Spartan]

29 minutes ago, Chakram12 said:

401K ante Ee chiti uncle anni vadilesi vachesthaduga

[Fasak]

2 hours ago, Spartan said:

+1   it varies from person to person

+69 like diick 

no dicks are same no 

[Spartan]

1 minute ago, TheCompleteMan said:

@Spartan

Bhayya here is my question. Could u answer?

let's say naku 100k vastunnay bhayya. ma employer 10%  varaku match chestadu, nenu oka 10% contribute chesta.

Say I stay in US for 3 years and decides to go back to India for good by taking the money out from 401K.

How much money will I be getting on hand by taking taxes & penalty out.

 

Year   My Contribution  Employer Contribution  Return on investment

1         10000                      10000                                   0

2         10000                      10000                                    1600

3         10000                      10000                                     3328

 

Total amount in my 401 K is 64928

you said tax bracket is 22% so that will be 50643

How much is the penalty I have to pay?

And my main question is..

  What if I chose to not to contribute at all to 401K.. will there by any advantage in 3 years money wise.

64K ki tax bracket 12% ye.

and then u pay 10% penalty so..total 22% tax pay chestav.

and other taxes count cheskunte overall ga u will be paying around 32%. on total withdrawl (state, fica, medicare, ssn etc..)

still u r getting ur money free. employer contribution tax kinda potadi ante.

 

qn --> Answer : as said earlier blind rule if employer is contributing to 401K ..put money there..

[Fasak]

4 minutes ago, TheCompleteMan said:

@Spartan

Bhayya here is my question. Could u answer?

let's say naku 100k vastunnay bhayya. ma employer 10%  varaku match chestadu, nenu oka 10% contribute chesta.

Say I stay in US for 3 years and decides to go back to India for good by taking the money out from 401K.

How much money will I be getting on hand by taking taxes & penalty out.

 

Year   My Contribution  Employer Contribution  Return on investment

1         10000                      10000                                   0

2         10000                      10000                                    1600

3         10000                      10000                                     3328

 

Total amount in my 401 K is 64928

you said tax bracket is 22% so that will be 50643

How much is the penalty I have to pay?

And my main question is..

  What if I chose to not to contribute at all to 401K.. will there by any advantage in 3 years money wise.

60K take 28% = your take home in 3 yrs 

[Spartan]

57 minutes ago, pumpkin said:

we can deduct roth in our tax returns right ?

https://www.rothira.com/traditional-ira-vs-roth-ira