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On track for maximum contributions
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Topic: On track for maximum contributions (Read 1721 times)
TomTX
Walrus Stache
Posts: 5345
Location: Texas
On track for maximum contributions
«
on:
February 24, 2020, 06:54:20 PM »
On track this year (finally!) for the family to hit 2x 457 max + 2x 401k max + 2x IRA max. Big promotion for me last year, wife got a permanent slot late in the year.
That's $19,500 x4 + $6000 x2 = $90k set aside in tax sheltered accounts.
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RWD
Walrus Stache
Posts: 6611
Location: Arizona
Re: On track for maximum contributions
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Reply #1 on:
February 24, 2020, 07:24:08 PM »
Wow, that's incredible!
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coldestcat
5 O'Clock Shadow
Posts: 77
Re: On track for maximum contributions
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Reply #2 on:
February 25, 2020, 11:53:12 AM »
thats awesome
@TomTX
. My wife has access to a 457 and a 401, while I have a 457 and 403. We are not close to maxing out those accounts but once we do, we would want to look into an IRA like you and your wife have done?
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TomTX
Walrus Stache
Posts: 5345
Location: Texas
Re: On track for maximum contributions
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Reply #3 on:
February 25, 2020, 07:28:12 PM »
Yes, once you max the work-related retirement accounts, IRAs are available as well.
Presuming your work accounts are low fee, of course. If not, I would prioritize IRA higher, just after putting enough in work accounts to get an employer match.
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On track for maximum contributions