Related Posts
Conversation Starter
Conversation Starter
More Posts
When you know your pilot had a mad one last night...
What is the best tool for hiring teachers?
I recently interviewed for L7 EM at Google and had 4 great interviews and one not so great system design. I submitted external referrals all of which gave great feedback. The recruiter said the next step is team match/interviews and then the HC. Anyone in a similar situation? What was the result? Google
Additional Posts in Consulting
I love my team. That's all. Thanks.
What's your FB 💙 score?
What are the best Sales books y’all read?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Pro
Start a periodic monthly purchase of an SP500 mutual fund.
Pro
Vanguard, Fidelity or Charles Schwab.
That’s all depends on your income if you are above 144,000 you can’t do ROTH IRA you can however do a ROTH 401K which I do pay taxes now vs later.
Pro
If you are at the 24% or lower bracket the difference is less and there’s some chance that higher future tax rates will wipe out the advantage. However at 32% rate it’s unlikely that Roth will beat traditional. KPMG did I convince you?
Oh I see what you mean because you are already at a high tax bracket you will not be at that same tax bracket with your retirement money
open a taxable account on vanguard/fidelity/td/etc and use dollar cost averaging to buy total stock market index or s&p500 index. The cheapest, lowest maintenance way to invest your money and get a good return
Pro
Slalom, it’s not just that your income is likely to be lower, the key is in the structure of our marginal tax brackets. Even if you have the same income in retirement, that income tax is part at 0%, part at 10%, part at 12%, part at 22%, part 24% and then part 32%. On $400k the average tax is 21%. That compares to paying 32% on your Roth contributions if you made $400k. Yes, you save if your retirement income is less than your working income BUT even if they are the same, you still pay way less in retirement because you don’t pay tax on the entire income at the marginal rate. THIS is the key that should convince you to use traditional 401k if you are in 32% bracket.
Max out 401k, max out mega backdoor Roth 401k. Then max out backdoor Roth IRA. Then I-bonds. The rest in taxable brokerage.
So about 20k traditional, 47k Roth, 10k I-bonds each for self and spouse