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Contribute to wifes 401K or Roth while kids in College?
Posted on 9/16/16 at 1:52 pm
Posted on 9/16/16 at 1:52 pm
I have been fully funding my Wife's Roth the last couple of years. She is 45. She has a 401K at work where the employer does not match (they have a defined contribution plan). I ahve a duaghter starting college next fall and might be a tough squeeze to pay college and fully fund the wifes Roth and mine. My wife is currently contributing about $5500 to her 401k every year (about 10%). Should we put this in the Roth instead of the 401k while Daughter is in College? The tax savings on the 401K contribution is going to be negligible for me.
This post was edited on 9/16/16 at 1:53 pm
Posted on 9/16/16 at 3:01 pm to lsufan1971
If the employer doesn't match anything then I would prefer the Roth. One, you will have more options then the employer plan. Second, the tax free withdrawal in retirement.
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