Maxed out 401k, on to IRAs

[Gin1984]

This will be the first year we have maxed out as much as we can (and even so my employer does not let me max more than 30% so maxing this year is 16500 for me.  But my husband is maxing out 18500.  And we like to stay under the saver's credit so, to do so because of my husband taking an overload and opening some checking accounts, we will be putting in almost $2000 in our tIRAs.  We are trying to save for a downpayment so not likely we will max out the IRAs but nice that we are getting up there.  :)

[Duke03]

Nice job.  Keep maxing them out and watch how fast they grow in 5 years.

[thisisjeopardy]

Nice job. I was able to do this a couple years ago, then the baby came and a $2500/mo daycare bill :) I can still max this and the IRA but things are pretty tight, even for being an anti-consumerist.

[Gin1984]

Nice job. I was able to do this a couple years ago, then the baby came and a $2500/mo daycare bill :) I can still max this and the IRA but things are pretty tight, even for being an anti-consumerist.

I have two kids so I understand the cost of kids!  :)

[AccidentalMiser]

Well done.  Do you have Roth 401k available?  Are you using it?  It's hard to pay the taxes now but it'll potentially be harder to pay them later.

Just thinking out loud.  It does feel good to max out the 401k, doesn't it?!

[Gin1984]

Well done.  Do you have Roth 401k available?  Are you using it?  It's hard to pay the taxes now but it'll potentially be harder to pay them later.

Just thinking out loud.  It does feel good to max out the 401k, doesn't it?!

I do have access to a Roth 401k, but we would lose the savers credit plus the actual tax deduction.  We've already do put some in a Roth IRA as we can (though not this next couple of years until we save up for the down payment), that I feel comfortable going with a traditional 401k.

[DreamFIRE]

Good job on the maxing out.  I've never done that.  I'm set for $46,500 into my 457B, 401a, and Roth IRA combined this year as a single person, and that's still many thousands short of the limit.