So I took a major step up in income from the annual salary of 32K/a year to 75K/year
Before I was focusing on paying school debt off and slowly upping my 401K
Now however my school debt will be paid off very quickly. (It's a shade under $4000)
I've already opted to max my new employers 401K
And, if I understand correctly I can contribute a max of $5,000 to an IRA (I currently have a traditional IRA)
So is it possible to put back any more money pretax; or do I have to bite the bullet and open a standard investing account?
Sorry I should mention I'm trying to put back 40% Which, by my back of the napkin math, is about 30K\year
Currently i can put back 23K\year pretax between the 401K and the IRA if my math is right.