Originally Posted by civicdrivr

That's a good point. My company has a pretty good match - 7.5% if I put in a minimum of 6%. I put in more than that - it works out to be just about the maximum for 2020 ($19,500). From what I've been reading (again, not super in depth), IRA contribution limits are $6k for 2020, so maybe it doesn't make the most sense to take from one to give to the other.

However, there may be an opportunity to set up an IRA to compliment the 401k - just brainstorming though, I don't really have the motivation to work today so this is where my mind goes

Originally Posted by civicdrivr

.... However, there may be an opportunity to set up an IRA to compliment the 401k - just brainstorming though, I don't really have the motivation to work today so this is where my mind goes

Originally Posted by Bearcat94

Yes, that's exactly what we're doing. AND each individual can have an IRA .... effectively doubles the savings rate for a couple.

As far as tax .... they're going to whack you on your 401k withdrawl or traditional IRA withdrawal. The main question is: Will my tax rate be higher now or in the future.

Not an easy question to answer. Best bet might be to hedge with some pre-tax (401k/IRA) and some post-tax (Roth IRA) retirement savings.