Retirement savings for a SAHM

[Anonymous]

DH is a big law senior associate and I SAH. We currently save the following:

1) contribute the maximum allowed to DH's 401K plan (no match)
2) $4k for DS' 529 plan
3) $8 K for DD's special needs trust (she has some significant challenges and will need life-long assistance.). She will likely qualify for some public assistance, but the special needs trust is important to improve the quality of her life and covers what public programs do not.
4) A Vanguard fund for me - the amount varies year to year - has ranged from $2k to $10k

For the next 3-4 years, it makes sense for me to stay home. (Two big surgeries coming up and the recovery is not pleasent and will involve missing a lot of school.). What should I do to save for my own retirement? Marriage is solid, but anything can happen as we all know. We just finished paying off our mortgage and have no student loans/other debt. (No family help and no inheritances expected.). DH makes $300k, travel is impossible right now, I'm naturally frugal, and we love our public school, so our expenses are reasonable - we have money to save. Should I just keep putting $$$ into my Vanguard fund or is there a better vehicle for me to use to save in my own name for retirement? TIA.

[Anonymous]

I'm not an accountant, so I don't know what you can set aside pre-tax. But whatever it is, it won't be enough.

Open a brokerage account and put money in it. Savings is savings.

[Anonymous]

DH makes too much for you to take the deduction but you can still contribute to retirement....just won't be deductible. this is what I understand. maybe someone else will have more to add.

[Anonymous]

Back door Roth for both if you. You want a non deductible non working spouse IRA.

[Anonymous]

We just save. There isn't a whole lot else you can do (other than a back door Roth but that takes more effort than just saving). Also, stay married for 10 years! At that point, you are eligible for spousal SS benefits even if you don't pay into the system.

[Anonymous]

You can do 10k worth of I Bonds in your name each year. Interest is tax deferred and inflation adjusted.

[Anonymous]

What is a back door Roth?

[Anonymous]

Anonymous wrote:What is a back door Roth?

http://lmgtfy.com/?q=back+door+roth

[Anonymous]

those back door roths are complicated so be careful.

[Anonymous]

Are back door Roths only for assholes?

[Anonymous]

Anonymous wrote:DH is a big law senior associate and I SAH. We currently save the following:

1) contribute the maximum allowed to DH's 401K plan (no match)
2) $4k for DS' 529 plan
3) $8 K for DD's special needs trust (she has some significant challenges and will need life-long assistance.). She will likely qualify for some public assistance, but the special needs trust is important to improve the quality of her life and covers what public programs do not.
4) A Vanguard fund for me - the amount varies year to year - has ranged from $2k to $10k

For the next 3-4 years, it makes sense for me to stay home. (Two big surgeries coming up and the recovery is not pleasent and will involve missing a lot of school.). What should I do to save for my own retirement? Marriage is solid, but anything can happen as we all know. We just finished paying off our mortgage and have no student loans/other debt. (No family help and no inheritances expected.). DH makes $300k, travel is impossible right now, I'm naturally frugal, and we love our public school, so our expenses are reasonable - we have money to save. Should I just keep putting $$$ into my Vanguard fund or is there a better vehicle for me to use to save in my own name for retirement? TIA.

Do a back door Roth for you and hubby before any brokerage. $5500 per person per year, tax free growth, tax free disbursement.

End thread

[Anonymous]

honestly I CANNOT STAND IT when people say "end thread".

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