UAL B Fund
04-29-2016 | 11:37 AM
#12
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Gets Weekends Off
Joined: May 2014
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So for the employee contribution it's 18,000$ limit TOTAL? I thought you could put 18k in your 401k and 18k in the 401k Roth and 5,500 in a non IRA Roth. (If you were under the income limits) And then 53k total for employee + employer contribution for the 401k.
04-29-2016 | 11:49 AM
#13
Gets Weekends Off
Joined: Nov 2009
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402g limit is 53,000 total. 35k employer, 18k employee. You'll make too much to qualify for a Roth IRA.
As far as the 401k, you can contribute your 18k under either Roth (pay taxes now) or traditional (par taxes later) or any combination. Personally I contribute 50/50 Roth/traditional. Spreads the tax liability between now and then.
Bottom line, you can't contribute more than 18k/year and be tax deferred on either end.
04-29-2016 | 11:55 AM
#14
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Joined: Feb 2011
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Plus $6k once 50 years old, so $59k. Also, at the higher incomes ($218,750), once the company exceeds $35k contribution you have to reduce your own 401k contribution to prevent anything over the limit going into the pilot's (and pilots') health account, unless you want it to.
04-29-2016 | 12:51 PM
#15
Gets Weekends Off
Joined: Aug 2011
Posts: 2,583
Likes: 16
From: Hoping for any position
402g limit is 53,000 total. 35k employer, 18k employee. You'll make too much to qualify for a Roth IRA.
As far as the 401k, you can contribute your 18k under either Roth (pay taxes now) or traditional (par taxes later) or any combination. Personally I contribute 50/50 Roth/traditional. Spreads the tax liability between now and then.
Bottom line, you can't contribute more than 18k/year and be tax deferred on either end.
As far as the 401k, you can contribute your 18k under either Roth (pay taxes now) or traditional (par taxes later) or any combination. Personally I contribute 50/50 Roth/traditional. Spreads the tax liability between now and then.
Bottom line, you can't contribute more than 18k/year and be tax deferred on either end.
But this is a pilot board and your talking finances so.....there's that.......
04-29-2016 | 01:54 PM
#16
UCH Pilot
Joined: Oct 2014
Posts: 776
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From: 787
Plus $6k once 50 years old, so $59k. Also, at the higher incomes ($218,750), once the company exceeds $35k contribution you have to reduce your own 401k contribution to prevent anything over the limit going into the pilot's (and pilots') health account, unless you want it to.
04-29-2016 | 03:01 PM
#17
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Joined: Jul 2015
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Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
04-29-2016 | 03:09 PM
#18
Gets Weekends Off
Joined: Jun 2007
Posts: 3,042
Likes: 47
From: 767/757 CA
At what point is this excessive?
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
04-29-2016 | 03:31 PM
#19
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Joined: Apr 2010
Posts: 740
Likes: 19
My $.02
If you go into retirement and it feels like you've doubled or halved your usable income, you saved too much/little respectively.
If you go into retirement and it feels like you've doubled or halved your usable income, you saved too much/little respectively.
At what point is this excessive?
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
Say I'm 35 right now. UAL is going to put enough away (assuming 16% and no changes to pay, tax rules, etc) enough for well over 5 million bucks.
I figure I will invest elsewhere with money I can use before retiring (real estate, college savings for kids, etc) while making the minimum contributions to the UAL fund required to max out tax advantages... But 10 million in the 401k just seems like putting too much where I won't be able to use it.
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