Four in 10 Americans don't see retirement ever happening

Re:Four in 10 Americans don't see retirement ever happening by madengr on Saturday June 08, 2019 @10:45AM (#20132647)

Problem is you can’t fund a 401k and traditional IRA at the same time. Then you can’t fund a Roth IRA if you make too much (and it’s only $3k/year anyway). The government has rigged it so they are getting a cut of your retirement savings, one way or the other.

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Re:Four in 10 Americans don't see retirement ever happening by jogjayr on Saturday June 08, 2019 @02:13PM (#20134041)

You can fund a traditional IRA and 401k up to a certain MAGI.[2] If your spouse doesn't work, or their work doesn't offer a 401k, you can fund a traditional IRA for them as well. Roth IRA is $5.5k/year.[0] If your 401k plan allows in-plan conversions you can also do mega backdoor Roth IRA contributions up to something like $37k. [1]

0. https://www.nerdwallet.com/blog/investing/roth-ira-contribut...

1. https://thecollegeinvestor.com/17561/understanding-the-mega-...

2. https://www.quickanddirtytips.com/money-finance/retirement/c...

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