The Money Mustache Community

Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: jhartt3 on February 28, 2014, 06:03:15 AM

Title: Thank you
Post by: jhartt3 on February 28, 2014, 06:03:15 AM

For helping my understand the Value of Tax deferred accounts when you're above the 15% tax bracket.  my old tax bill was 559.65 a month and has dropped to 354.77 since i switched from roth 401k to trad. 401k.  this is a savings of over 400 dollars a month. 

and since i havent been able to convince my wife to come around to mustachian ways yet.  This has allowed me to help her max out her 401k at work as well.  this should represent large tax savings for us over the next few years. 

Thanks again... 

Title: Re: Thank you
Post by: soccerluvof4 on February 28, 2014, 12:40:54 PM

Awesomeness!

Title: Re: Thank you
Post by: lifejoy on February 28, 2014, 01:13:19 PM

This community is the best :)

Title: Re: Thank you
Post by: arebelspy on February 28, 2014, 04:52:33 PM

Congrats, well done!

Title: Re: Thank you
Post by: marty998 on February 28, 2014, 04:58:17 PM

Quote from: jhartt3 on February 28, 2014, 06:03:15 AM

For helping my understand the Value of Tax deferred accounts when you're above the 15% tax bracket.  my old tax bill was 559.65 a month and has dropped to 354.77 since i switched from roth 401k to trad. 401k.  this is a savings of over 400 dollars a month. 

and since i havent been able to convince my wife to come around to mustachian ways yet.  This has allowed me to help her max out her 401k at work as well.  this should represent large tax savings for us over the next few years. 

Thanks again...

Well done

but 559.65 - 354.77 = $400?? The extra is the Mrs's saving?....

Title: Re: Thank you
Post by: jhartt3 on March 01, 2014, 12:03:50 PM

sorry that was from one paycheck i get paid every other week so multiply the difference by 2