My employer disqualifies high earners and offers them a NQSP instead. Therefore, as a high earner, I don’t qualify to contribute to 401k. Is it advisable to start contributing to NQSP? I am a bit skeptical since funds placed in this bucket is not guaranteed to be disbursed if the firm goes out of business or something happens to a point where it shut down.

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I would speak to an accountant.

If you own a small business, such as a consulting firm, you can also open a Solo 401k in parallel.

Thus would allow you to contribute up to 61k/annually.

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Thank you. This is a great idea. Unfortunately I don’t own a consulting firm. Something to think about for sure.

Hi! So if the NQSP isn't backed or guaranteed, I would work with an accountant to determine if funds spent now / deferred now would or would not qualify for a tax write off. Since it isn't backed, there tends to be the issue that you don't own any of it until it's in your hand, which is when you would be taxed.

That’s exactly how I look at this situation. It’s like once I have it on my hands, I will still pay taxes, I will pay either way unless I am sure that a withdraw would be made after age 65.5 if the
Firm is still in business by then.

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