Is that number (401k) the result of decades using a retarded metric system or something copletely different ? I didn't read thread so just asking

It's a reference to the section of the Internal Revenue Code that provides the mechanism for a tax deferral account. Section 401 part K.

Pretty standard lingo for most countries when you start talking tax, often things are just referred to their section in whatever respective countries tax act. In Canada, we're always talking, oh we will do a section 85 or some such thing and its just a reference to tax code, section 85 of the tax act.

Tax accountants are not known for their creative naming.

This post was edited by SBD on Oct 31 2023 03:34pm

Lmao I never knew this

457b probably same thing then

401k

how tf do u know all this shit

What rough number does this 4% translate to?

$8.4k from 4% bonus
$15.1k from 6% match

Got u

So after ur 22k, another 23k all into your 401k

Grats brother. Happy it all worked out for you

This post was edited by Bazi on Oct 31 2023 06:49pm

thank you for the clear explanation. appreciate the help greatly

Disappointed. In here it's common to see 5 numbers + 1/2 letters forms.