{ "media_type": "text", "post_content": "For those of you that are married...Are you maxing out tax-advantaged accounts individually, or does everything fall under one person? \n\nPretty much are you contributing $9750 each, $19,500 to a 401k account for the both of you, or are you contributing $39,000 in total?", "post_id": "60f72da9f2a77200226d97b7", "reply_count": 10, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

For those of you that are married...Are you maxing out tax-advantaged accounts individually, or does everything fall under one person? Pretty much are you contributing $9750 each, $19,500 to a 401k account for the both of you, or are you contributing $39,000 in total?

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By definition, retirement accounts are individual. So my wife contributes $6,000 & $19,500 of *our* money to her IRA and 401k while I do the same for my accounts with *our* money. I emphasize "our" because while we both work, we have no concept of "my money" and "her money". Her expenses are my expenses and vice versa

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Yeah. We don't "split expenses" if she wants to buy a purse she buys it. If I want to buy a bottle of gin I buy it. Now, if she wants to buy a car or something we'll talk about it first, of course.

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39K in total

What about dependent care FSA? Can each contribute the max at their respective employers?

Yes - apparently it’s been increased to 10k from 5k. Accenture didn’t give us the option to increase our contribution though

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