Hello All,
Next year (July 2017) I will finally be done with my medical training and my dearest wife will have another two years of residency. I was wondering what is the best way to start our finances.
Resident Plan: My plan had been to contribute a 100% of her resident income to our hospital's 403b till she gets to the max of 18,000. We will then contribute another 5500 to her backdoor IRA. No hospital match for residents.
Attending Plan: Contribute up till the max of 18,000 and then add another 5500 to my backdoor. We have a small staff match by the hospital. I will have a large taxable investment account.
Are there any other creative ways to maximize our pre-tax savings? Should we consider filing taxes separately?
Thanks,
Next year (July 2017) I will finally be done with my medical training and my dearest wife will have another two years of residency. I was wondering what is the best way to start our finances.
Resident Plan: My plan had been to contribute a 100% of her resident income to our hospital's 403b till she gets to the max of 18,000. We will then contribute another 5500 to her backdoor IRA. No hospital match for residents.
Attending Plan: Contribute up till the max of 18,000 and then add another 5500 to my backdoor. We have a small staff match by the hospital. I will have a large taxable investment account.
Are there any other creative ways to maximize our pre-tax savings? Should we consider filing taxes separately?
Thanks,
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