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After you maxed out on all tax advantaged options (401K/Roth IRA) the. Invest in a brokerage account such as Vanguard with low cost index funds.
Chief
Here’s the typical order -
https://www.bogleheads.org/wiki/Prioritizing_investments#/media/File%3APrioritizing_investments.svg
F
F in the chat
Once you max contributions in 401k, consider other tax advantaged accounts (e.g. IRA) or you can put into a Brokerage account.
Caps are for special tax treatments.
Chief
It depends on your plan, but you can probably contribute to an “After Tax” account if you want. However this isn’t terribly advantageous. You contribute after tax money and then at retirement you’ll be taxed again on withdrawals. The benefit is no taxes on growth over the years.
Some plans now also offer the ability to convert these After Tax contributions to Roth status, which means you won’t pay tax on withdrawal in retirement. That’s a huge benefit of course. Your plan has to allow it though.
CAN you? Yes. SHOULD you? No.
The only benefit of contributing after tax would be the easy automated withdrawal from your paycheck - the downside would be that your post-tax money is locked up in that 401k and subject to the withdrawal rules like the rest of the money.
Taxable brokerage is a better option because you can withdraw it at any time without the penalty that applies if you dip into your 401k before retirement age. You'd just pay the normal taxes.
Max out tax-advantaged 401k >
Backdoor Roth IRA >
Invest in taxable account, or try for Mega Backdoor Roth if plan allows
You can change the percentage ater and most of companies stop contributing after you hit the limit otherwise 401k people will send you the pay check of additional amount in case if your employer over contributed for that year
Rising Star
For 2023, $22,500 for individual contribution and $66,000 for all contributions for below age 50
If you max out your 401k you may want to look into other investment vehicles. If you're somewhat HNW then utilize a financial advisor.
Does Deloitte offer a Roth 401k? If so that’s magical combination of tax free growth and you can take out your original investment so it’s not all locked up