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re: 401K/Roth401/Roth IRA Question
Posted on 2/4/12 at 8:12 pm to JBM210
Posted on 2/4/12 at 8:12 pm to JBM210
quote:
I currently have a 401K through my employer in which I am fully vested. I'm pulling 10% out of my checks here and still live comfortably. They match 4% to my 10%.
I'm not a financial pro, so this is just my marginally informed opinion...
Do you have to put in 10% for them to match 4%, or do they match the first 4% and you're just putting in another 6%?
Always make sure you put in enough to reach your company match. If that's 10% to get 4%, I would not change anything. If it's 4% to get 4%, you can look at putting the rest in a Roth.
If it's the latter...with 15 yrs left, you may want to just leave it like it is. BUT...if you foresee yourself being in a higher tax bracket when you retire, I would recommend putting that extra 6%(of course it will be after tax dollars) into a Roth to avoid the higher tax rate.
1
Posted on 2/4/12 at 9:17 pm to TheChosenOne
quote:
I'm not a financial pro, so this is just my marginally informed opinion...
On that same note...
I've been given the advise before that it's a good idea to have a mix of traditional and Roth. The argument is that it gives you choices from what to pull from at retirement. For example, you might want to pull the maximum allowed from your Roth before pulling from the traditional.
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