115 | Why Highly Compensated Employees Can't Always Max Out Their 401K

The contribution limit for your 401K in 2023 is $22,500 for those of us under the age of 50, so you're assuming you for sure can contribute that whole amount to max out your 401K out for the year, right?? Unfortunately, that's not always the case! If you're considered a highly compensated employee (HCE), then if you try to max out your 401K, you could actually get a 401K refund due to your employer not passing the nondiscrimination test. Listen to learn more about what this means!    If you're ready to get started on your financial journey, reach out to me about coaching opportunities: [email protected]   Are you just beginning your journey to financial independence and want to learn more? Download your FREE copy of the PA the FI Way Beginner’s Workbook here!   Website / Blog: pathefiway.com - View website to learn more about financial independence and to learn how we can work together to help you with your financial and career goals on your way to FI!   Enjoy the show? You can now support the PA the FI Way podcast through Buy Me a Coffee! Thank you for all of your support! https://www.buymeacoffee.com/pathefiway    Follow along on Instagram: @pathefiway   https://www.instagram.com/pathefiway/   Follow or connect on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/     Join the private Facebook group created for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway    Like the Facebook page to follow along for updates: https://www.facebook.com/pathefiway   Keywords: physician associate , physician assistant , physician assistant financial independence , physician associate financial independence , physician assistant finances , physician associate finances , physician assistant finance , physician associate finance , physician assistant money , physician associate money , physician assistant school , physician associate school , PA school , PA-S , PA-C , pre-PA , physician assistant student , physician associate student , nurse practitioner , physician , healthcare workers , healthcare professions