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Originally Posted by adaway
The company match is 150% starting this year.
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Is your company hiring? Let me send you my resume.
Quote:
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Originally Posted by adaway
I feel like the govt holding on to my 2200 was really wasted bc I could have contributed more to 401k and gotten 100% match all along and this year I start to get a 150% match.
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Definitely. In fact, if I didn't have the money, I would consider
borrowing the money in order to maximize my 401k at a 150% match. For every dollar you put into the plan you have $2.50. My God, man, RUN don't walk to your HR department and fill out the form to contribute 8% RIGHT NOW. Cancel the cable TV, stop eating out, do whatever you gotta do to take advantage of that benefit.
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Originally Posted by MonkeyMama
$2200 is about 2-3 exemptions. I'd go for 2. You'll still get a small refund. That will go a long way for your 401k.
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You're probably right. 2 or 3 would be fine. But I hesitate recommending to someone to make a big change in their exemptions right away. It's painful to give the govt a big interest-free loan, but it's even more painful for most people to owe the govt at the end of the year. It's possible the $2200 was atypical for that person.