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401k Rollover
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<blockquote data-quote="raceanoncr" data-source="post: 489744" data-attributes="member: 6408"><p>1989, I kinda hafta respectfully take issue with this. </p><p> </p><p>With a Roth, you can only invest up to $5000, if you're over 50, a year. With a 401K, you can invest up to, what is it this year, $15000. Control? Well, what's not to control in your 401. There are alot of different funds to move it around in. Sure there are alot of different funds in Roth also. I say, "What's the diff"? Besides, in today's economy, NOTHING is gonna work. </p><p> </p><p>Taxes? Right now, I want all the tax-deferment I can get. I have been maxing 401 for a number of yrs and it's worked great on taxes. Taxed at a higher rate later on? That much higher to make a diff? I don't think so. </p><p> </p><p>The last few yrs, even with 401 maxing out, I've been taxed at 35%. Last yr, because of being out on dis for alot of months, and my income being slashed, I was taxed at 15%. I figured that when I retire (hopefully within the yr), with pension, early SS, wife's income, we'll be right at what I made last yr on dis, 15%, and I can make it on that just fine. Even if it jumps to 20% or 25%, it's still better than the 35% I was getting hit with working all year. </p><p> </p><p>Do what you must, but in my case, this works just fine. Well, when the economy works just fine, that is.</p></blockquote><p></p>
[QUOTE="raceanoncr, post: 489744, member: 6408"] 1989, I kinda hafta respectfully take issue with this. With a Roth, you can only invest up to $5000, if you're over 50, a year. With a 401K, you can invest up to, what is it this year, $15000. Control? Well, what's not to control in your 401. There are alot of different funds to move it around in. Sure there are alot of different funds in Roth also. I say, "What's the diff"? Besides, in today's economy, NOTHING is gonna work. Taxes? Right now, I want all the tax-deferment I can get. I have been maxing 401 for a number of yrs and it's worked great on taxes. Taxed at a higher rate later on? That much higher to make a diff? I don't think so. The last few yrs, even with 401 maxing out, I've been taxed at 35%. Last yr, because of being out on dis for alot of months, and my income being slashed, I was taxed at 15%. I figured that when I retire (hopefully within the yr), with pension, early SS, wife's income, we'll be right at what I made last yr on dis, 15%, and I can make it on that just fine. Even if it jumps to 20% or 25%, it's still better than the 35% I was getting hit with working all year. Do what you must, but in my case, this works just fine. Well, when the economy works just fine, that is. [/QUOTE]
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