No. of Recommendations: 1
My question is that I will be maxing out my 401 for the year and have already contributed to my IRA. What happens to my 16% I have deducted for my 401 after It's been maxed out?

Could you flesh this out a little for us? I'm not sure what the question is. You are allowed to contribute the maximum to your 401(k) and $2,000 to your IRA in one year.

If you're talking about exceeding the limit of your allowable 401(k) contributions, you need to get the excess back from the plan (and stop making more contributions). If you're asking what happens to that portion of your paycheck that was previously going to 401(k) contributions, it will be in your paycheck.

If I didn't stumble upon the answer, please clarify the question.

Phil Marti
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.