I'll try to keep it short.
Tax filing MFJ and over 50 years of age. MAGI expected to be around $250K this year, of which $125K will be earned income (rest is from pension and brokerage). We will be in the 22% bracket (state is 5%). I have access to both a 403b and 457b and max out both - $61K between them - and can defer either Roth or pre-tax. How much of the $61K would you put in Roth? How much in pre-tax?
Current pretax total is $1.4 M. Current Roth total is $200K. HSA contributions are maxed out. I backdoor Roth every year. If I split 50/50 (Roth/pre-tax), then my wife can contribute to a Roth IRA, but she doesn't backdoor the Roth due to an existing rollover pre-tax IRA.
Thanks.
Tax filing MFJ and over 50 years of age. MAGI expected to be around $250K this year, of which $125K will be earned income (rest is from pension and brokerage). We will be in the 22% bracket (state is 5%). I have access to both a 403b and 457b and max out both - $61K between them - and can defer either Roth or pre-tax. How much of the $61K would you put in Roth? How much in pre-tax?
Current pretax total is $1.4 M. Current Roth total is $200K. HSA contributions are maxed out. I backdoor Roth every year. If I split 50/50 (Roth/pre-tax), then my wife can contribute to a Roth IRA, but she doesn't backdoor the Roth due to an existing rollover pre-tax IRA.
Thanks.
Statistics: Posted by peteyboy — Thu Jul 04, 2024 5:22 pm — Replies 8 — Views 437