December 2, 2007

2008 401k Contribution Limit

I recently logged into my 401(k) and ratcheted up my contributions. I am a little shy of maxing out my 401k contribution limits and I am stretching myself to make sure I max it out. Since my wife is only contributing to a Roth IRA, I now feel a stronger need to stash more away for retirement.

The employee 2008 401k contribution limit is $15,500.

posted by 2million on 12/02 | StumbledUpon | Add to del.icio.us | Digg This | Share | Comments (3)

Similar Entries

Switched my 401k Contribution to Roth 401k (Nov 03, 2008) I am already on track to max out my 401(k) for 2008 at $15,500 in annual pre-tax contributions. However with the significant stock market declines I was thinking about how I could step it up a notch. I decided to...

What Happens When You Hit the 401k Contribution Limit? (Feb 25, 2008) If you max out your 401k before your last paycheck for the year your employer's payroll dept will stop deducting 401k contributions from your paycheck. Is it a bad idea to max out early? Generally speaking it could be less...

Best Way to Max out your 401k Contribution (Feb 22, 2008) Ok so you have convinced yourself that you want to maximize your 401k contributions. Congrats! Simply put, the easiest, most straight forward way to max out your 401k contributions is to taking the remaining amount your can contribute and divide...

Comments (3)


I've been trying to find out... maybe you know - when is the deadline for 2007 contributions for both a 401K and a Roth IRA? Just by reading some things I've got the feeling that the deadline for 401K is December 31 and that Roth IRA is April 15? But what if you file taxes early? Any idea where I can find out at?

Posted by JB @ GetRichOrDieTrying | December 4, 2007 1:48 PM

Have you done much research on the 72T rule for early 401K/IRA distribution without paying the 10% penalty? I have just recently heard about this law. Do you consider this a decent option for someone like yourself trying to retire early?

Posted by Financialchoices | December 7, 2007 7:06 PM

Deadline for 401(k) contributions is Dec 31st. IRA contributions have a deadline of April 15th (or tax deadline) of the following year.

Posted by 2million | December 25, 2007 9:34 AM

Post a comment

(Comment moderation enabled.)

About 2millionblog.com

A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $663,869

Sponsors

Lending Club - Start Investing Online Today!

New Personal Finance Articles



Prepaid Credit Cards The READYdebit prepaid credit card is designed to help build or re-establish credit with no credit check required.

Personal loans for every need and budget. Apply for fast cash loans for whatever your needs are including loans with no credit

Moneynow is your one-stop for all bad credit loans including payday loans, personal loans and signature loans.

Free debt advice on UK debt management plans and IVAs. Contact Debt Response for an immediate consultation.

A payday loan is a short-term financial cash advance product; use it wisely.

Compareandsave.com best buy financial services; compare credit cards, loans, mortgages, car, home and pet insurance

Compare Australian home loans or learn more about refinancing your mortgage.

Get help managing your debts with debt help & advice for UK consumers.

Advertise Here


PF Blogs