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Reply to "My co offered me a ‘supplemental savings program’ through our 401k. It is a way to defer comp and bonus, but says it "
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[quote=Anonymous][quote=Anonymous]Deferred Comp is a mess and not worth it unless you're a super millionaire with accountants to manage it for you. The taxes get messed up and you can end up paying double taxes. And you might be earning more money later than now. You can put about 50k a year in a tax-advantaged mega backfoor Roth. Are you trying to stash more than that? [/quote] My deferred comp program was very simple and didn’t require an accountant. I put in a lot of money over about ten years and invested it mostly in index funds. It grew very nicely and when I retired I took it out over five years so it was still growing. My annual payout was pretty much equal to my final year salary. Yes, it’s taxed as ordinary income like a 401k but it was a great deal for me. That five years covered me before I was required to take money out of my retirement accounts and with social security it allowed me to wait until I could max out my payments. [/quote]
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