Subj : Re: Retirement
To   : Jahmas #29
From : Weatherman
Date : Sat Feb 10 2024 05:53 pm


J> You have a 403B if you work for a non-profit? At Tufts we're a "for
J> profit" so we would have a regular 401k. I found out that I could max out
J> a Roth 401k due to catch up incentive and filing jointly. My wife helped
J> so I could have some money left over each month and so I consider that

Yes, non-profits do the 403B which is very similar to 401k - minus I don't know 
of a way to do a Roth inside of it.  The Roth IRA limit this year is $7500 for 
me with the catch up.  You obviously can't write off contributions, as it is 
after tax - but it grows tax free and can be withdrawn tax free in retirement. 
The main thing is having lots of buckets so you can try keep your retirement 
income in as tax friendly bracket as possible by using different buckets.

I plan on doing a one time cash out of my "pension/annity" into an IRA so there 
will be no tax and I'll be able to make more money on the funds and keep the 
balance.  

In the meantime, I'll be maxing everything possible and might work one extra 
year until I'm 60 just to save an extra entire years salary.  Not sure yet, I 
might change my mind and stop before then - but I'm thinking about getting a 
pool - so that would be my reason for working one extra year if I do that.

- Mark

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