Hi all,
I have a question regarding optimum contributions to my retirement account for next year.
I'm married, no kids. Single income ~300k/year. My job allows access to both a 403b and 457b supplemental plan.
My initial plan was to max out both accounts with 18k of pretax money = 36k pretax total. However per the financial guy here, I can choose to treat my 457b as a roth account and put upto 18k after tax dollars in there.
My question is - is it better to put away 36k pretax and reduce my AGI , or would 18k pretax and 18k roth work out better in the long run? There is an employer match on just the 403b so I will be receiving that regardless.
I was surprised to hear I could even do upto 18k as roth, given the contribution limit I keep hearing about is 5500.
Thanks in advance.
RPC
I have a question regarding optimum contributions to my retirement account for next year.
I'm married, no kids. Single income ~300k/year. My job allows access to both a 403b and 457b supplemental plan.
My initial plan was to max out both accounts with 18k of pretax money = 36k pretax total. However per the financial guy here, I can choose to treat my 457b as a roth account and put upto 18k after tax dollars in there.
My question is - is it better to put away 36k pretax and reduce my AGI , or would 18k pretax and 18k roth work out better in the long run? There is an employer match on just the 403b so I will be receiving that regardless.
I was surprised to hear I could even do upto 18k as roth, given the contribution limit I keep hearing about is 5500.
Thanks in advance.
RPC
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