No. of Recommendations: 0
Hello Everyone,

Several questions pls.

I have 403b at work and I am going to turn 50 yrs old in 2005. Yearly income about 70K. I want to max out my 403b and I believe I will be also entiltled to a 'catch up' contribution.

1. Q: Can I contribute the whole amount allowed in the first part of the year as opposed to spreading it throughout the year through all the paychecks? If I can 'front fund it', what if I change the job during the year?

2. Q: When can I start making the 'catchup' contributions? Can I start at the beginning of the year 2005 or do I have to wait till I actually turn 50 yrs old, which will not be until November 2005? What is the max for each pls?

3. I believe I can still contribute toward Roth IRA, no? If yes, what is the max for 2005 (including the catchup Ira contribution?

Much obliged,
Regards to all.
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.