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re: Traditional IRA contribution limits?
Posted on 2/16/10 at 10:03 am to Dusty Bottoms
Posted on 2/16/10 at 10:03 am to Dusty Bottoms
quote:
A 25 year old maxing out 401k and IRA at today's limits until age 60 would have the following at age 60, assuming these annual returns:
5% = $2.1MM
6% = $2.6MM
7% = $3.2MM
8% = $4.0MM
But that's nominal value, not real value, right? (Been a while since econ
) $4MM in today's dollars doesn't seem like all that much in 2050.
quote:
What really hurts are the highly compensated employee limitations. It's entirely possible that someone spending a large portion of his/her career just above the HCE hurdle (currently $110k) could be in a world of hurt at retirement, having severely limited access to tax sheltered retirement saving as compared to those below and well-above the hurdle. Brilliant move, Congress.
Exactly.
1
Posted on 2/16/10 at 11:19 am to Thomas Hudson
quote:
Beyond 401K and IRAs, you're pretty much looking at traditional mutual funds to make up the difference, right?
if you want to shelter earnings the 3rd place to put money would be in an annuity with an insurance company. Personally I invest in mutual funds that are very tax efficient like index funds so I dont have to pay much out in taxes.
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