Over-Contributing to a 403(b): Balancing Matching Contributions and Contribution Limits

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This chapter explores the concept of over contributing to a 403(b) retirement plan and the factors to consider, such as tax implications and matching dollars. The hosts discuss the options of sacrificing a match or paying the penalty for excess contributions, as well as investing in a taxable investment account. They also mention the unethical option of maxing out all 403(b)s and the associated penalties.

Today is another Friends of WCI episode. Tyler Olson of Olson Consulting joins Dr. Dahle to answer your questions. They talk about paying taxes and if you should use a professional or do them yourself. They discuss medical loans and how taxes work with those. They discuss what to do with an old SEP IRA, if it is ever a good idea to over contribute to a 403(b) and the difference between average cost basis and actual cost basis.

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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

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