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Reply to "Should I max out my pre-tax retirement options?"
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[quote=Anonymous][quote=Anonymous]Just to be clear, you don't have any pre-tax retirement options because you are already maxing out your 401ks with after-tax funds, and your income is too high to contribute directly to an IRA. Your only option would be switch your contributions from Roth 401k to Regular 401k, but that is not saving additional money. As others have mentioned, the only way to put additional money in tax-advantaged accounts is doing the Backdoor Roth. [/quote] Well, switching those $41K contributions to pre-tax would generate a tax savings of about $12,200 (24% marginal federal tax plus 5.75% (assuming VA)). All they need is an additional $800 to fund two backdoor Roths. This way, the ARE saving additional money (for now).[/quote]
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