Hello everyone,
My main question is should my wife contribute to her 457b plan instead of a Roth IRA?
Our combined income is too high to get the deduction for a traditional IRA ($130,000). We both currently max out each of our 403b's and IRA's. If I am reading correct, a 457b plan will allow me to withdraw the money before the typical age requirements of an IRA or 403b (59 1/2). This would be an attractive option if we are able to retire at 50 like we are planning.
I don't think we will be able to max out the 403b, IRA's and a 457b so I am considering not contributing to her Roth IRA to get the deduction of the 457b. Does this sound like a good plan or should I forget the 457b and continue to contribute to her IRA?
Thank you
