401K Maxout chesthunara?

[Vaaaampire]

22 hours ago, Aquawomen said:

401k is a waste investment

22k before tax money and 15k is after tax money . 20 years bratkina  15k ki  300000 earning is good

65 years evadu vayya brathikedhi waste

cc @Konebhar6 and old uncles who are 55 meeku best 401k

 

22k after tax 15k.

what if emp is doing 50% match. Then its 33k in 401k vs 15k.

that 33k grows similar to other investments too. U can choose what index u want to bet

[Konebhar6]

51 minutes ago, beerboy17 said:

I changed employer and got contribution little higher than limit..how to correct it ? Is it can be done by cpa at tax filing only or can we do before that ?

If you do not correct it, they will be double taxed. The year you file and the year you withdraw. Best is to contact your plan administrator in your new company (person who handles 401k) and ask them to withdraw excess amount sent to your 401k provider.

[Aquawomen]

1 hour ago, Vaaaampire said:

22k after tax 15k.

what if emp is doing 50% match. Then its 33k in 401k vs 15k.

that 33k grows similar to other investments too. U can choose what index u want to bet

can u buy pre tax 401 to buy index ?

 

[Aquawomen]

9 hours ago, nag said:

You are wrong anukunta bro..

You are not saving taxes and also missing your employer contribution 

If you are smart enough.. you can grow your investments wisely..

 

enduku anna 65 age varaaku bathukutavvaa anna nuvvvu

employer contribution 50 or 60% ichinna salary daggara 10ga pettdam  or vesting peroiod  dagara 10gapettadam chesutunaru

evadiki telusu same company ki 3 years work chestaamu aani

 

[nag]

12 hours ago, Aquawomen said:

enduku anna 65 age varaaku bathukutavvaa anna nuvvvu

employer contribution 50 or 60% ichinna salary daggara 10ga pettdam  or vesting peroiod  dagara 10gapettadam chesutunaru

evadiki telusu same company ki 3 years work chestaamu aani

 

You are right. I agree with you bro.

Evadu entha kaalam vuntaamo telvadhu.. ala ani.. istam vacchinattu vundamu kada

Uncertain life ani cheppi.. Chadvulu chadavakunda, jobs cheyakunda, entho kontha future kosam savings cheyakunda vundamu kada.. manam andaram chesey koddipati savings (though it is very less) for our family.

Smoking,  mandhu, mukka, and shopping cheyakunda vundhi 100 yrs bathiki emi labham ani..body ni full abuse cheyamu kada..

FT lo 3 yrs min work cheyochu (on a general note or wait for atleast 3 yrs vesting period) and gain the benefit of employer matching..believe me..wealth is built slowly.. i was in same thought process like you and wasted few years by not contributing to 401k.

Employer pay exploitation vuntadi most of the times.. not in all cases.. they will exploit no matter what even if they match or doesn't match your contributions.

Still , if you think 401k contribution is not worth ..send me a DM, i can give some example numbers and brief explanation to help you.  All the best.