Post by marshmallowhands on Nov 13, 2012 17:23:34 GMT -5
I can't sort this all out and I'm hoping that writing it all and getting some MM opinions will help me get a handle on this.
The facts: DH- 30 years old. Income- $100,000/year Annual saving- $15-17,000; plus matching in company 401K Current 401K retirement savings- ~$100,000
Me- 28 years old Income- $32,000 (working 4 days/week) Annual savings- $5,000/year (~16%); plus matching in company Simple IRA Current Simple IRA balance- $38,000
The issue DH's company now offers a Roth 401K. Do we: a.) Change nothing; b.) Switch all DH contributions starting Jan 2013 to Roth 401K; c.) Switch some of DH contributions starting Jan 2013.
I'm nervous to switch them all for tax reasons. I'm also thinking of cutting my schedule to 3 days/week when we have our 2nd child in April.
Post by winemaker06 on Nov 13, 2012 17:57:39 GMT -5
I still do all Traditional because we want the tax break. Since you have a child deduction, it might not be as big a deal to you. But I want all the help I can in lowering my taxes now.