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Started By
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Anyone using Roth 401k?
Posted on 12/24/13 at 8:44 am
Posted on 12/24/13 at 8:44 am
My company began offering a Roth 401k option this past year. It appears to work the same as a Roth IRA, although I think (not sure) that the contribution limits are higher. To be honest, I haven't looked into it much but starting to think it could be a better option while I am theoretically in a lower tax bracket.
Anyone else using this rather than traditional 401k?
Anyone else using this rather than traditional 401k?
3
Posted on 12/24/13 at 9:31 am to HurricaneDunc
*Raises hand*
Main thing it does for you is allows you to tax diversify in one package by giving you the option to save your contributions post tax, either entirely or split pre and post tax.
All employer contributions are still pre tax though.
Main thing it does for you is allows you to tax diversify in one package by giving you the option to save your contributions post tax, either entirely or split pre and post tax.
All employer contributions are still pre tax though.
Posted on 12/24/13 at 10:44 am to HurricaneDunc
Definitely higher.
Regular Roth limit $ 5500
401k Roth limit $17,500
If you can afford it, you can take advantage of higher limit and have more invested tax free when you withdraw at retirement.
Regular Roth limit $ 5500
401k Roth limit $17,500
If you can afford it, you can take advantage of higher limit and have more invested tax free when you withdraw at retirement.
Posted on 12/24/13 at 10:58 am to HurricaneDunc
I contribute to both the Roth and the traditional plan. Our company started offering the Roth about four years ago.
Posted on 12/24/13 at 11:19 am to AthensTiger
I started doing to both last year....5% each...gonna up it to 10% each this year.
Posted on 12/24/13 at 2:02 pm to LSU9102
Is there an annual income limit on contributions similar to a Roth IRA? (181-191k annual??)
ETA: just googled myself - no limit
ETA: just googled myself - no limit
This post was edited on 12/24/13 at 2:06 pm
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