I've seen some other posts with people loading up on 401ks in the final year of working and I'm wondering what the reasoning is for this. One reason I question this tactic is that I've also heard some retirees belly aching about IRMAA. But now I've finally looked at the table of IRMAA costs and IRMAA doesn't look like much of anything. Am I missing something? Even if one were pushed into the 3rd tier of costs where the premium is double that of the minimum premium, your only talking about having to pay an extra $2,220 a year on reportable income of $266 to $334K.
So the real question for loading up on the 401k only comes down to whether I think there is an advantage to defer my taxes or not and whether I have enough assets in a taxable account to get me through to Medicare (currently younger than 65), and then through to 70 when I plan on starting SS. Right?
So the real question for loading up on the 401k only comes down to whether I think there is an advantage to defer my taxes or not and whether I have enough assets in a taxable account to get me through to Medicare (currently younger than 65), and then through to 70 when I plan on starting SS. Right?
Statistics: Posted by Middle — Thu Jan 02, 2025 12:37 pm — Replies 6 — Views 290