It's all in the exact details of a person's individual situation. I've been maxing out my 401K, plus the catch-up allotment for the last few years before I retire late this year. I worked it out and had my CPA confirm it, that I should be at the top of the zero % tax bracket even when RMDs are required.
So I pay no tax on that money now, and no tax when I withdraw it unless I need a large amount for some reason. But I have a taxable account and a Roth to pull from as needed. So right now a 401K is my best option.
So I pay no tax on that money now, and no tax when I withdraw it unless I need a large amount for some reason. But I have a taxable account and a Roth to pull from as needed. So right now a 401K is my best option.
Statistics: Posted by ondarvr — Thu May 16, 2024 10:41 pm — Replies 22 — Views 4172
