4
votes
1answer
221 views

Why is the total 401(k) contribution limit (employee + employer) so high?

The 2014 employee contribution limit is $17,500. The 2014 total contribution limit is $52,000. (Provided they're not capped earlier based on low income.) Meaning the IRS has left room for a ...
3
votes
1answer
97 views

Married couple, high combined income: Can we contribute to IRA, on top of 401k?

My wife and I earn between $180,000 and $210,000 combined. The amount varies due to job changes and side consulting. She puts about 4% of her salary into a 401k which is fully matched. I put in 6% and ...
1
vote
1answer
61 views

What are the exact catch-up IRA contribution age 50 limit rules?

If a person will turn 50 in the current tax year, can they make a catch-up IRA contribution for that tax year before they turn 50? Also, one site I found said age 50 1/2, so is it 50 or 50.5 years ...
9
votes
3answers
198 views

Employer limits total 401K contribution to below IRS max. How can we max out our pre-tax contributions?

It looks like my wife's employer is limiting her 401K contributions to 15% of her salary. This means we cannot max out the $17.5K contribution limit set by the IRS. Say her salary is $70K and we are ...
2
votes
2answers
43 views

How are HSA contribution limits calculated when filing taxes jointly?

My wife and I both have HSA accounts, which we intend to max out. We are not dependents on either's accounts not any other dependents in each of the accounts. We also can easily max out the single ...
4
votes
1answer
75 views

Why has the contribution limit for IRAs increased so much over the years?

According to Wikipedia the maximum contribution rate for a Roth IRA was 2000 dollars in 1998. In 2013 the contribution limit was 5500 dollars. This appears to be an increase of a little less than 7% ...
3
votes
2answers
4k views

Over contribution to 401K between two employers, and maximizing employer match? [duplicate]

I have a situation like this: I worked for an employer this year from January to May and contributed $14,500 to my 401K. There was no matching from this employer. In mid-May time frame, I changed ...
3
votes
1answer
508 views

401k Contributions + Employer Match be greater than Maximum Contribution?

This year, 401k contributions are capped at $17,000 per person. So let's say somebody contributes this amount and is matched maybe 8% by their employer each contribution period. Can the total amount ...
17
votes
3answers
343 views

Why is there such disparity of max contribution limits between 401K accounts and regular IRA accounts?

In 2011, regular IRA accounts allowed only $5,000 maximum contribution, while 401K accounts allowed up to $16,500. Why is there such a disparity? Why do tax advantages favor employees of large ...
5
votes
2answers
599 views

Are 401(k) contribution limits for employee & employer separate? What about hitting the limit?

I am glad to see this forum. I have been reading a lot and have some questions about me specifically. I am 29 years old and have a 401(k) already with my company. I just started contributing 10% to ...
6
votes
3answers
1k views

How feasible would it be to retire just maxing out a Roth IRA?

How feasible would it be to retire on just maxed out Roth IRA contributions each year? Obviously this depends very much on how old you are when you start, and your living expenses when you retire. ...
2
votes
2answers
782 views

401(k) contribution limits & job change: How to prevent over-contributing at new employer?

My wife is changing jobs, and we are trying to figure out how to deal with her 401(k) contributions. She contributes the maximum allowed, and depends on her employer to stop deducting when the limit ...
3
votes
1answer
121 views

Do contributions made to an “involuntary 401(a)” count against the limit for a Roth IRA?

At work I pay into an "involuntary 401(a)" retirement plan. I'd like to also open up a Roth IRA on my own. Do the contributions I make through my work plan count against the $5000/year limit on the ...
6
votes
3answers
427 views

What are the 401K and IRA limits for next year (2013)?

Are 401K and IRA contribution limits increasing next year? If so, what are the new limits? Thank you!! (Edit - I updated question to reflect 2013, and will update my answer accordingly)