Re:Early Retirement (2006)
by ryandrake on Wednesday August 04, 2021 @11:46AM
(#28062390)
Disclaimer: I am not a CPA or tax attorney.
As of 2021, a very high income married one-earner household can potentially put away $19.5k/yr pre-tax into a traditional 401(k), $38.5k/yr into a after-tax Roth 401(k) which can be optionally converted to a Roth IRA, plus $6k/yr for both the worker and the spouse into Roth IRAs, plus $7,200/yr into a family HSA (if it's available thru your employer).
That's $19.5k + 38.5k + 6k + 6k + 7.2k = 77.2k tax advantaged. $57.7k of that is not subject to income tax or capital gains upon distribution, as long as you are following the rules. Not too bad.
As of 2021, a very high income married one-earner household can potentially put away $19.5k/yr pre-tax into a traditional 401(k), $38.5k/yr into a after-tax Roth 401(k) which can be optionally converted to a Roth IRA, plus $6k/yr for both the worker and the spouse into Roth IRAs, plus $7,200/yr into a family HSA (if it's available thru your employer).
That's $19.5k + 38.5k + 6k + 6k + 7.2k = 77.2k tax advantaged. $57.7k of that is not subject to income tax or capital gains upon distribution, as long as you are following the rules. Not too bad.