Maximize 401k contributions

Forum|Forum|3 years ago
January 11, 2023
2 replies
3 views

I checked the maximize contribution box for my 401k. I am wondering if that includes maximizing both the employer and employee contributions? Since I am self employed I think I can contribute as both, correct? If checking the maximize box only maximizes the employee part of the contribution, how do I calculate how much additional I can contribute as the employer? Thanks

Not A Product Question

Best answer by MarilynG

If you have already entered your business income/expenses, the 'Maximize Contributions' box will tell you what you can contribute as both employer/employee, as it it taking into account your net business income.

However, if you contribute to any other retirement plan, you will need to calculate your employer contribution yourself. Click this link for instructions if that applies to you.

Click this link for more info on the Maximize Contributions tool.

MarilynGAnswer

Level 15

However, if you contribute to any other retirement plan, you will need to calculate your employer contribution yourself. Click this link for instructions if that applies to you.

Click this link for more info on the Maximize Contributions tool.

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