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@EY1 I contribute post tax because I live in a non tax state and I would assume I’ll pay equal to or more than 15% income tax in retirement. I do contribute to both. If I lived in a high tax state I would put all money into pretax to take advantage of the deduction on both federal and state.
Max 401k, plan to backdoor convert to roth when i FIRE and dont have income
12% this year. 14% next year. 17% the year after.
Post tax (Roth) 401k. 10%. Staff 1
Wife and I match our 401k and the rest go in backdoor roth and taxable accounts.
Yikes at everyone making their 401k...
Yes get one. I cont 6% and max my Roth every year
@ey6 I would contribute to a Roth if you have the money. A little bit at a time can go a long way
Why would you contribute post-tax? Isn't the whole point of 401(k) is for the pre-tax savings?
Max allowed - mostly Roth because you’re effectively putting more money away-
13% right now set to auto-escalate by 3% each year after comp talks. With match it works out to be around $12,500/year.
*max not match
Hey guys, so I contribute 6% of my paycheck to the 401k cause that's what EY will match up to. But my questions is When do people get Roth IRAs? Is it something I should be looking into as a staff1?
Thanks for the insight guys. Appreciate it :)