daffers234
New member
@jasonrporter0316 Just some quick math to show you the advantage of AT MINIMUM maxing out your 401k (especially at your income).
You currently only put ~$6,800/year away. Meaning you are being taxed on your income of $163,200 @ 30% leaving you with $114,240.
If you maxed out your 401k contributions that's $22,500. Your taxable income is now $147,500 @ 30% leaving you with $103,250. Saving an extra $1300/m ACTUALLY only costs you $900/m.
You currently only put ~$6,800/year away. Meaning you are being taxed on your income of $163,200 @ 30% leaving you with $114,240.
If you maxed out your 401k contributions that's $22,500. Your taxable income is now $147,500 @ 30% leaving you with $103,250. Saving an extra $1300/m ACTUALLY only costs you $900/m.