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Post-Tax Retirement Contributions

Aug 02, 2016 11:55AM EDT

I have not been able to find a way to add post-tax retirement contributions into the retirement calculator. Sure, i can add a post tax account as a retirement account, but I am not allowed to budget for it. As such, it thinks that I'm saving much less than what I actually am. Also, I can't tell if it is taking employer contributions into account. It looks like it might be given all the options about employer contributions, but it would be nice to have a read-out of exactly how much is being contributed by whom.

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HelloWallet Support Answer

Aug 02, 2016 02:54PM EDT
Joe
HelloWallet Support

You can add post-tax contributions (such as a Roth IRA) in your income profile, and you can link the account itself as you would any other, just make sure that it’s marked as a retirement account in the retirement profile or it won’t be taken into account. If your account is provided to you by an employer, then yes, we take employer contributions into account by default. If HelloWallet isn’t provided to you by an employer, you’d have to add the employer contribution. To do so, in the Retirement Guidance screen, click “Take Advantage of 401k/403b Match!” on the left sidebar. You can then put how much the match is.

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