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Message
re: Am I out of tax shelters?
Posted on 4/28/16 at 12:23 pm to Joshjrn
Posted on 4/28/16 at 12:23 pm to Joshjrn
quote:
I recently received a significant raise,
Good for you!
Sucks you don't have a 401k. My wife and I are filing separately from here on out due to student loans and this year we're maxing out our 401ks to push down AGI. Filing separately or not our income would keep us from taking any of the filing jointly advantages, including ROTHs.
After that, I kind of have to decide if we'll backdoor ROTH contributions as long as that is still available or just build up taxable a bit for some long term things that I'll need the cash for.
I've started coming around to the idea it is kind of lame to have so much money in tax sheltered accounts you can't touch until you are 2/3 dead. But totally understand doing it if you are in the range where that's your only way to retire comfortably.
This post was edited on 4/28/16 at 12:30 pm
1
Posted on 4/28/16 at 12:34 pm to Teddy Ruxpin
quote:
Sucks you don't have a 401k.
My employer invests 7.5% of my salary straight up, so I have a hard time complaining too much, but yeah, I wish I had the flexibility.
ETA: The equivalent of 7.5% of my salary. They aren't taking 7.5% from me to invest
This post was edited on 4/28/16 at 12:36 pm
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