The Price You Pay
Posted by KC | Posted in 401(k), personal finance, Roth IRA | Posted on 27-06-2007
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Well – the new job is going really well. There’s a lot of stuff to learn, but everyone is really nice and I feel that it’s a great fit for me.
The only thing that is bad so far is that it’s a one year wait for enrollment in the 401(k). Ouch!
I must have misunderstood during the interview process because I had thought that the one year referred only to when I’d be eligible for the profit sharing program (which is pretty sweet by itself).
Oh well – it’s too bad I can’t keep contributing to my old 401(k) which is still at the former job. But there are some positives (I guess):
- Bigger overall paycheck now that my 10% 401(k) deposit isn’t being taken out
- Opportunity to begin investing in my ROTH IRA again.
I haven’t received a paycheck yet from the new job so I’m honestly not really sure what the bi-weekly number will be, but I’m obviously looking forward to the raise being tangible.
Yeah – That’s exactly what I was thinking. When I first set up the account I had automatic payments, but decided to focus more on my 401(k) in order to take advantage of the company match. I don’t have the luxury of such a decision now though.
Thanks!
Set up a “Direct Deposit” from every paycheck to your Roth IRA during this 1 year. That way, you will still feel like you are making progress and have some additional cash too!