{ "media_type": "text", "post_content": "Need investment allocation advice. Specifically \"should we max out 401k?\" More detail in comments", "post_id": "5ecc6fbd551d9b001d620f94", "reply_count": 21, "vote_count": 2, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter", "feed_type": "bowl" }
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Need investment allocation advice. Specifically "should we max out 401k?" More detail in comments

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At your income level you should be maxing out your 401k because you reduce your AGI which is important at your income level. We are at 185k and 86k. After maxing 401k, HSA, and taxes. We take home 8500 and 3500 a month.

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Don’t you exceed the income limit for a Roth?

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We do Backdoor Roth

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Income:
Me: $160,000 (age 27)
Wife: $115,000 (age 26)

Current investment allocation-

401k:
Me: 6% or $9,600/yr
Wife: 6% or $6,900/yr

Roth IRA:
Me: $6,000/yr
Wife: $6,000/yr

Taxable stock purchase plan:
Me: $17,250/yr (sell and diversify)
Wife: $6,613/yr (buy and hold)

Taxable robo investment:
$4,000/mo or $48,000/yr

Recommend diverting from our robo to 401k maximum or no? We want to have some money that we can access for big purchases and are wary of putting money away that cannot be touched till we are in retirement

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You can however convert your 401k to a Roth IRA and then make withdrawals after 5 years.

Agree it’s not as liquid, but the 401k is also more beneficial typically

At your income levels, I would definitely max your 401k. You can more than afford it.

Plus you get the added bonus of reducing your taxable income

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Do you have a master's? Impressive comp

Hm, may need to switch to Accenture

Where is the rest of your money going? Invest more

Oh boy

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