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401k
Posted on 1/8/20 at 5:48 pm
Posted on 1/8/20 at 5:48 pm
currently have 300,000 in 401k. Company recently added roth to list of options.. Should i continue to contribute pre-tax or switch to roth. have about 15 years till retirement.
9
Posted on 1/8/20 at 6:08 pm to bluewing
Pre-tax.
Posted on 1/8/20 at 9:03 pm to bluewing
I was advised about 5 years ago to meet the minimum of the 401k, and then flood my Roth. The advisor told me that many of his clients cant really dig into the 401k without getting a huge tax hit. The Roth will allow for a larger sum upfront while living off of the 401k.
I'm putting 11% 401k and 15% Roth.
I'm putting 11% 401k and 15% Roth.
Posted on 1/8/20 at 9:23 pm to bluewing
I would split contributions between the two. That way you have options.
Posted on 1/9/20 at 6:53 am to bluewing
What age are you wanting to retire at?
Do you expect to have a higher income, lower income or the same income level when you retire?
Do you think in general that income tax rates will go up or down in the future?
Do you expect to have a higher income, lower income or the same income level when you retire?
Do you think in general that income tax rates will go up or down in the future?
Posted on 1/9/20 at 8:03 am to bluewing
IMO, you have enough time left (just) to begin hitting the Roth hard, and that should result in you having a decent balance between the two.
Posted on 1/9/20 at 11:40 am to bluewing
Does your company provide a matching contribution? If so, the match portion would already be on a pretax basis, meaning you could still maintain a certain amount of tax diversification going forward even if you contribute 100% towards the Roth.
Posted on 1/10/20 at 5:41 am to bluewing
All my contributions go into Roth 401k
Posted on 1/10/20 at 8:21 am to bluewing
For those that have switched or split between a regular 401k to a Roth 401k, have you seen a change in your take home pay and/or taxes at the end of the yr? I just started splitting this year but I’m hesitant to put more into the Roth until I see what it does to me come tax time next yr.
This post was edited on 1/10/20 at 8:47 am
Posted on 1/11/20 at 6:51 pm to bluewing
Be sure to get any match offered because some don’t match on the Roth side. Then put 50-100% toward Roth account.
Taxes will be higher than current rates at some point and will have ability to control you’re tax rate with Roth distributions
Taxes will be higher than current rates at some point and will have ability to control you’re tax rate with Roth distributions
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