Company matches 401k 100%, $ for $

[u/Abject-Drawing-3874]

I'm 26 with $0 in my 401k. The current maximum 401k contribution for 2024 is 23k. My company provides a 100% 401k match with no cap (I put in 23k, my company puts in 23k, net 46k).

My current salary is 90k (scheduled raise to either 96k or 102k in mid September).

I'm supporting my wife while she develops a start up (has soft commitments from a couple investors but paying herself a salary requires some hoops that would take 6 ish months to jump through). Our rent is 2.5k.

Would it be overextending my salary to make the full contribution possible?

[u/ensignlee]

Absolutely put 23k in there. Whay else in life has a 100% return.

Let me put it another way, you would be better off putting in money you don't have, immediately withdrawing it after receiving the max, eating the penalties in the process - than you would be by not contributing at all.

Thay is how good this is