Maxing out your 401k definitely should be your first priority.
Thanks! That is my goal, to start a Roth once we can comfortably max 401K (this year, it’s a stretch but we’re learning to live on less take home pay, which is good). Then hopefully to start a taxable but that could be a decade away. I have an upward career trajectory at my company, feel optimistic about 20 more years here (love my job) and potential promotions/raises, and they do allow partial withdrawals after age 55. I’m ok with being the tortoise not the hare. Thanks for the great advice!
Since you have a 401k, your ability to contribute to a Roth IRA might be limited (check the current income thresholds) - in that case consider doing a tIRA with Backdoor Roth IRA conversion.
Taxable should be the last option for any leftover savings you wish to invest on top of that.
Taxable comes with many headaches like taxes on dividends / distributions as well as during portfolio rebalancing.
Statistics: Posted by friluftsliv-roy — Wed Sep 18, 2024 7:34 pm — Replies 31 — Views 3451