Hello everyone!
I've been a lurker of this forum for a while now, even before the forum change! Created a schwab HYC because of advice noted from here. Anyway, i'm finally here registered to make my first post and start the journey to ER.
Background:
I'm 22 years old, live in NYC, head of household, no debt, salary of 45k a year pre-tax, plan to do freelance work as ER -- possibly making over my current salary but not planning on it, also not set on living in NYC for the rest of my years.
I'm working for the city and there is no employer matched 401k, but we do have a 457 plan which works well for ER and if I contribute 7.5% of my salary to it I auto opt out of paying for social security benefits.
Here is the breakdown of the four plans I can choose from.
To the question! As someone living in NYC, would you -- knowing all the information listed above, recommend I stick with the traditional 457?
My thinking was, since i'm in the 15% tax bracket as HoH, I should mostly fund a Trad 457. When I move out and am no longer HoH but instead a single-filler, mostly fund a Roth 457. How does this sound to you more seasoned folk?
Extra question would be the obvious one you've heard countless times, should I start funding a Roth IRA or Trad IRA -- I always read the wonders of the Roth but as a New Yorker i'm a bit weary.
Anyway, thanks for helping me out and I hope to learn as much as I can going forward from you all!