I’m trying to figure the “correct” way to invest for retirement with access to a Traditional and/or Roth 403(b), a 457(b) plan, HSA, and Split-Dollar Life Insurance plan.
Relevant background:
39M, divorced w/o kids but in a serious relationship that will result in a proposal this year. No debt besides a $200k mortgage at 2.7%.
Gross income is around $320-330k ($255,000 base + a 30% bonus opportunity).
I have historically maxed out my Roth 403(b), Traditional IRA, and HSA contributions. I am switching to the traditional 403(b) option this year to lower my taxable income. My company matches 6% of my 403(b) investment.
My company also puts 15% of my salary into a Split-Dollar Life Insurance Plan - and I can put up to 75% of my income into the plan as well.
So, should I be trying to max the 457(b) before putting anything in the Split-Dollar Plan? Vice versa? Am I overthinking it?
Relevant background:
39M, divorced w/o kids but in a serious relationship that will result in a proposal this year. No debt besides a $200k mortgage at 2.7%.
Gross income is around $320-330k ($255,000 base + a 30% bonus opportunity).
I have historically maxed out my Roth 403(b), Traditional IRA, and HSA contributions. I am switching to the traditional 403(b) option this year to lower my taxable income. My company matches 6% of my 403(b) investment.
My company also puts 15% of my salary into a Split-Dollar Life Insurance Plan - and I can put up to 75% of my income into the plan as well.
So, should I be trying to max the 457(b) before putting anything in the Split-Dollar Plan? Vice versa? Am I overthinking it?