- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: 401k tax advantages - am I calculating correctly?
Posted on 3/26/23 at 12:11 am to furrydogs
Posted on 3/26/23 at 12:11 am to furrydogs
Why? He’s in a high tax bracket - 32 percent. He’ll need and make less at retirement and likely be in a lower tax bracket so I’d reduce my taxes now my maxing in a traditional 401k vs a Roth 401k. Put what you save in taxes in another form of investment.
1
Posted on 3/26/23 at 7:04 am to dallasaggie
Thanks for confirming my thoughts as he had me over thinking it for some reason!
I thought about this as well. Even putting in 4% to Roth 401k and the 10% to pretax, that still is almost $3k year in tax savings I’m giving up.
Agree with someone above, no way I’ll be in the same tax bracket in retirement that I’m in now. I won’t be pulling nearly the same income in retirement as I’m behind on my overall contributions at the moment and will be working to 100 at this point before I can retire.
quote:
I would highly recommend that a portion of your contribution go to Roth 401k.
I thought about this as well. Even putting in 4% to Roth 401k and the 10% to pretax, that still is almost $3k year in tax savings I’m giving up.
Agree with someone above, no way I’ll be in the same tax bracket in retirement that I’m in now. I won’t be pulling nearly the same income in retirement as I’m behind on my overall contributions at the moment and will be working to 100 at this point before I can retire.
This post was edited on 3/26/23 at 7:15 am
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News