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How much tax protected space do you have?

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  • How much tax protected space do you have?

    If retired put the average that you had.

    Include any match.
    Include HSA
    per household.
    50
    <20k
    0%
    0
    20k-50k
    10.00%
    5
    50k-75k
    24.00%
    12
    75k-100k
    26.00%
    13
    >100k
    40.00%
    20
    Last edited by Lordosis; 02-06-2021, 06:16 AM.

  • #2
    Assuming this is per household?

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    • #3
      My wife and I both now work for large companies with deferred compensation plans. If we wanted, we could probably defer nearly all of our income, between the 401k plans and deferred compensation plans.

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      • #4
        Originally posted by TheDangerZone View Post
        Assuming this is per household?
        Correct

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        • #5
          Originally posted by VagabondMD View Post
          My wife and I both now work for large companies with deferred compensation plans. If we wanted, we could probably defer nearly all of our income, between the 401k plans and deferred compensation plans.
          This is awesome. Good for you guys. I’m jealous.

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          • #6
            Originally posted by VagabondMD View Post
            My wife and I both now work for large companies with deferred compensation plans. If we wanted, we could probably defer nearly all of our income, between the 401k plans and deferred compensation plans.
            Does the money in deferred compensation get invested / grow? Beyond 401k is this a non-qualified deferred compensation plan?

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            • #7
              I guess a benefit of having limited space is that you can just max it and do not have to figure out the optimal amount.

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              • #8
                i think i misunderstood- is this how much you have in tax protected space total or how much is available to you each year?

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                • #9
                  Originally posted by billy View Post
                  i think i misunderstood- is this how much you have in tax protected space total or how much is available to you each year?
                  Each year. Got to know your audience...

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                  • #10
                    drop me down to the 50k per year then, although with def comp I technically have more but wont use it (outside my employers contributions) since its non governmental.

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                    • #11
                      Married sole breadwinner independent contractor i401k + bdRothx2 + famHSA = $77,200 for 2021

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                      • #12
                        Do 529s count? That's like 30K per kid per year for most families.

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                        • #13
                          Originally posted by AR View Post
                          Do 529s count? That's like 30K per kid per year for most families.
                          No I would not count that. It is basically unlimited because of superfund and the fact that you can open accounts in any state.

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                          • #14
                            Originally posted by Lordosis View Post

                            No I would not count that. It is basically unlimited because of superfund and the fact that you can open accounts in any state.
                            I kind of agree, but not for that reason. Superfund just allows you to do 5 yrs worth in one year, so it still averages out to 30K per year. And the 30K would be the total for all 529s in all states (per child).

                            But you can always put in more than 30K/yr and take it off your lifetime exemption (I think). It is one of those things I only thought of years after it was too late. It's a much more useful to take advantage of tax-free gifting in that spot than it is after I'm dead.

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                            • #15
                              I think lordosis was going for how much tax protected retirement space you have. That was my interpretation, so yes I wouldn’t include 529s

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