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CrimsonRaider2357 t1_jear6md wrote

Reply to comment by beatplusmelody in How do I calculate what % to contribute to my 401k? by beatplusmelody

I would just calculate based on your base salary. If you get the bonus, you can recalculate and adjust the percentage down afterward. Most bonuses are paid at the beginning of the following year anyway, which means your 2023 bonus will probably be paid in 2024 and count towards the 2024 limit, not 2023.

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beatplusmelody OP t1_jeavnub wrote

Awesome thank you for your advice! :)

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CrimsonRaider2357 t1_jebmvo4 wrote

Glad to help! Keep in mind that if you contributed to a 401(k) at a different employer in 2023, you will need to subtract those contributions from your 2023 limit to avoid overcontributing.

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