Reply to If you have a pension, do you max out retirement savings too?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Pension will be around 14k/month (private) or lump sum of low 7 figs.

Max out two 401ks and 2 Roth IRAs.

Save another 75k per year in taxable accounts.

Hoping we will be ok.[/quote]

Bullshit. In 2013, the modified AGI limit for a married couple filing jointly was 188,000. Yet you're claiming to pay $36,000 pretax to your 401ks , and another 75,000 in after tax savings?  That's a minimum of 136,000 in AGI. You're telling us you live on 53,000, and save another 10,000 of that into a Roth?

Bullshit. [/quote]

Back door roth. It's $5500/year per person, regardless of agi. 401k max is 17,500 per person for a max of 35 k pretax.

You're clearly not up to date on tax law or even Roth contributions.[/quote]

I'm fully aware of a backdoor Roth, thanks. That little nugget of information is an important one in this context. By not mentioning it, you are giving the false impression that you are much more frugal than you are. Whether that's to toot your own horn on an anonymous forum, or because you lack a fundamental understanding of the point being discussed is anyone's guess.

And to be clear, you are not maxing out a Roth. You are maxing out a traditional IRA, and taking advantage of a tax loophole to convert it to a Roth. [/quote]

Want some cheese with that whine? You sound like an enlightened liberal [/quote]

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