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Started By
Message
Anybody pump the brakes on 401k investing because...
Posted on 9/1/20 at 10:15 pm
Posted on 9/1/20 at 10:15 pm
... you're concerned that income tax rates will rise significantly in the future?
13
Posted on 9/1/20 at 10:20 pm to Zachary
quote:
... you're concerned that income tax rates will rise significantly in the future?
Are you saying because 401k deduction will decrease?
When I am using 401k money and paying taxes I am going to be in poor person tax bracket
Posted on 9/1/20 at 10:21 pm to thelawnwranglers
Max out all possible Roth’s before 401K pre tax
Posted on 9/1/20 at 10:29 pm to Zachary
quote:Well, it can increase and still be lower in retirement than where you are now personally depending on your income.
income tax rates will rise significantly in the future?
This post was edited on 9/1/20 at 10:30 pm
Posted on 9/1/20 at 10:41 pm to Zachary
No. I get a 50% match. That’s $9750 of free money each year.
This post was edited on 9/3/20 at 10:11 pm
Posted on 9/1/20 at 11:07 pm to mule74
quote:holy shite where do you work.
No. I get a 50% match.
Posted on 9/1/20 at 11:26 pm to Zachary
You can do a Roth inside a 401K. Just verify how your company matches. I split my money between Roth and regular 401K.
Posted on 9/1/20 at 11:35 pm to mule74
quote:
$9250
quote:
50% match
Not sure this matches up.
Posted on 9/2/20 at 12:19 am to Zachary
I have always had concerns about future politicians taking money from my 401K in the form of new taxes, but that never stopped me from inevesting. I always contributed enough to get the maximum company match, and then did Roth on top of that. Can't be scared today of what might happen tomorrow, especially if it's based purely on speculation or skepticism.
Posted on 9/2/20 at 6:42 am to mule74
You get an uncapped 50% match?
Posted on 9/2/20 at 7:00 am to jimbeam
I think he is confused. They probably match .50 for every dollar he contributes up to 5% or something.
My employer matches 1:1 to 6%.
My employer matches 1:1 to 6%.
Posted on 9/2/20 at 7:00 am to jimbeam
I thought the TSP 5% match was good. Apparently not.
Posted on 9/2/20 at 7:01 am to Zachary
True diversification should indicate that one never overloads a certain personal financial sector in one's plans. 401k and standard IRA are tax laws, NOT savings plans.
If everyone would start with this knowledge,...
Don't overfund.
If everyone would start with this knowledge,...
Don't overfund.
Posted on 9/2/20 at 7:04 am to Zachary
Not me.
Posted on 9/2/20 at 8:20 am to Zachary
why would I do that when my solo401k contribution
A) gives me HUGE tax deductions right now
and
B) i use it for RE investments
A) gives me HUGE tax deductions right now
and
B) i use it for RE investments
Posted on 9/2/20 at 8:26 am to mule74
50% up to the max? No limit? That’s pretty nice
Posted on 9/2/20 at 8:27 am to Zachary
Even if true, you should be maxing out 2020 contributions as any changes to tax code would not take effect until next year if the Dem loony tunes take over.
Posted on 9/2/20 at 8:38 am to jimbeam
Before the downturn I was 10% to my 6%. Was nice while it lasted.
Posted on 9/2/20 at 8:50 am to Zachary
quote:
Anybody pump the brakes on 401k investing because...
... you're concerned that income tax rates will rise significantly in the future?
Of course not! I max my 401k out every year.
Also put the max in an IRA each year.
Posted on 9/2/20 at 9:10 am to LSU
Hell no. I put in my annual max of 10% and my employer throws in another 8% on top of that.
The only think I might do different next year is bump my contribution up to 15% instead of 10. That way I front load my 401k earlier in the year.
The only think I might do different next year is bump my contribution up to 15% instead of 10. That way I front load my 401k earlier in the year.
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