Author Topic: Can You Max a 457 AND a 403b?  (Read 2746 times)

Peter Parker

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Can You Max a 457 AND a 403b?
« on: February 19, 2016, 03:25:30 PM »
I posted in another thread that my wife is maxing out her 403b (24K) with a catch up provision and I'm maxing my 457 at 24K with the catch up provision...

I have an extra $1000 a month that I can invest....My job only offers a 457, but I THINK my wife has BOTH a 457 and a 403b available at her job....

Can we max out my 457, her 403b, AND her 457 for up to grand total of up to 72K a year???  Or is there a limit of 24K each (given that we are both eligible for the catch up provision)?

The reason I'm asking is that on the BADASSITY, thread, a teacher is maxing out both his 403b AND 457.  If this is allowed, I think I'd rather do this than put the extra money in a taxable account...

Thanks for the input!


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Re: Can You Max a 457 AND a 403b?
« Reply #1 on: February 19, 2016, 03:30:51 PM »
Yes, Both are allowed! :)

In addition, you could put $5,500 each (plus catch up $1,000) into an IRA or Roth IRA.


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Re: Can You Max a 457 AND a 403b?
« Reply #2 on: February 19, 2016, 03:44:11 PM »
Heck yes!  Too bad both your jobs don't offer both, or you could stock away a ton.

Go check out the Millionaire educators' website, Ed Mills. He commented in that thread your referencing and the link is in his signature.

You will learn a LOT about how best to take advantage of it.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at Check out our Now page to see what we're up to currently.

Peter Parker

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Re: Can You Max a 457 AND a 403b?
« Reply #3 on: February 19, 2016, 03:59:55 PM »
Wow. Took a look--Ed is killing it.  AND it gives me reading material to feed to my son (who is about to graduate) and is thinking about teaching, but is afraid it won't "pay enough." 

I've learned a lot over my 55 years--most notably that "stuff" doesn't equate with happiness.  I'm hoping my children learn this lesson earlier than I did and learn from my mistakes--and people like Ed who start early..... Time is TOTALLY on my kid's side.

For me, I'm going to look into my wife's plan--and see if both a 457 and 403b are available--If so, I'm on it!

Thanks for the info!


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Re: Can You Max a 457 AND a 403b?
« Reply #4 on: February 19, 2016, 05:19:37 PM »
Very possible. My wife and I are trying to ramp up so that we can max 2 403bs, 2 457s, 2 IRAs, and 2 HSAs. Lots of space to work on.


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Re: Can You Max a 457 AND a 403b?
« Reply #5 on: February 19, 2016, 07:26:09 PM »
Yup. You can max both a 457 and a 403b, or both 457 and a 401k, just not both a 403b and a 401k.

You can even max a 457 AND a 403b AND start a side gig and making employer/profit sharing contributions to a solo 401k (maxing out your employee contributions to the 403b uses up your combined employee contribution limit for 403b + 401k accounts, but the employer contribution limit is calculated separately for each employer).


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Re: Can You Max a 457 AND a 403b?
« Reply #6 on: February 20, 2016, 05:11:54 AM »
Yes you can do both. Teaching is the ultimate stash profession. My wife and I can stash up to 84K per yer when you add up the 403b, 457 and Traditional IRA limits.