I may have an opportunity to leave after bonuses are paid. Should I NOT contribute to my 401k percentage from the bonus, given that I may not be around to get the match? I assume I can take my own contributions with me if I leave; I just forfeit the match.
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Good advice. It's also very easy psychologically to kick the can down the road in a situation where you're switching jobs etc. Better to contribute now, roll into an IRA when you leave, and continue to contribute in your new gig if you can.
You should get as much as you can into the 401 because you’ll immediately be able roll it over to an IRA with tax deferral but better investment options. In the new co your 2025 funds will be constrained to 401-style investment choices until you leave that job.
if you catch up later you may miss out on gains that money could be making starting Feb 14. New company, if they have a match, may not make it available to brand new employees, may need to way a few months to a year. I'd also bet the new company match, if they have it, wouldn't be 6% which is one of the highest. End of day, do what's best for you.
DON'T contribute for the bonus check. You can always do it as a 'catch up' contribution later if you stay with the company. You'd simply make a deposit to your account through Empower
If your new employers matches per paycheck you will miss the match for however many months. There is no “saving” for the new employer. I would contribute whatever you normally would at WF
the point it to contribute pre tax dollars to your 401k for retirement. don't worry about the match. If you have another job lined up and you don't need the money now then let them take it and lessen your tax burden next year.
I am getting canned before the match and have cancelled my 401k contribution from this hijas payout. No point
The sole purpose at that point is to invest pretax dollars. No other benefit.
You are going to have manage to the IRS annual limit between contributions you made at WF and any you make at your new company before 12/31/25. So keep track of whatever you contribute before you leave.
You are right you won't get the WF match. So, you may want to save your contributions for the next company if you'll be match eligible.
As long as you have the matching amount of your new company left to invest in your 401k when you move then you should be fine. In other words, leave at least 6% (if they match 6%) remaining in your 401k contribution for the rest of the year. Example, 6% of $100k salary would mean you need to leave at least $6k to contribute at your new company. This shouldn't be a problem for most early in the year and if they max out their 401k.
Same difference.
Correct