Cat from Atlanta says,

Thank you for all your work, I feel so much smarter because of you.

I'm a pretty well compensated employee and was fully vested from day one at my job.

How often does that happen?

I'm contributing 8% to my traditional 401k and getting a company match.

I also contribute 8% to my Roth option.

Since we're almost halfway through the year and I've contributed about $13,000,

I'm on track to exceed my annual contribution limit of 22,500 and I don't want to get dinged

for overpayment. My question is whether the annual limit includes Roth and traditional 401k

contributions. Thank you for your feedback, I'm a super fan of the podcast as all my friends know.

Cat, thank you so much for your question and for being a super fan, I love that.

Also, congratulations on maxing out your retirement plan.

Being at risk of over-contributing is a wonderful problem to have, so nicely done.

While over-contributing to tax-advanced accounts like workplace retirement plans, IRAs and HSAs

is not allowed, it can be easy to do by mistake. This show will answer Cat's question,

will review contribution limits for various accounts and explain how to correct over-payments

and avoid penalties. Hey everyone and welcome back to Money Girl, I'm really glad you're spending

some time with me today. If you're new here, welcome. My name is Laura Adams, I'm an award-winning

author and finance expert who's been bringing money tips and advice weekly on this podcast since 2008

with over 40 million downloads. Here on the show, you'll hear me talk about a wide range of topics

like credit, debt, retirement, investing, real estate, taxes, insurance, money management strategies,

building a business, entrepreneurship, and lots more. And occasionally, you'll hear interviews

...