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Brown Cafe UPS Forum
UPS Retirement Topics
Roth or normal 401K
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<blockquote data-quote="purplesky" data-source="post: 1194009" data-attributes="member: 23628"><p>It all comes down to your tax bracket in your retirement? Are you a driver? Are you currently working a crapload of overtime and making around 95k as a driver? You are getting killed on taxes.</p><p></p><p>If you only have 20k and you are around age 50 then you are way behind on retirement savings and will not be close to having a high tax bracket retirement. Skip the 401k roth and max out your regular 401k and save on the tax hit now since your retirement income will be lower.</p><p></p><p>You can always open a Roth outside of the 401k if you can swing it? </p><p></p><p>The Teamsters pension in 15 to 20 years is icing on the cake. Plan on it not being there just to be safe.<img src="/community/styles/default/xenforo/smilies/FeltTip/wink.png" class="smilie" loading="lazy" alt=":wink2:" title="Wink :wink2:" data-shortname=":wink2:" /></p></blockquote><p></p>
[QUOTE="purplesky, post: 1194009, member: 23628"] It all comes down to your tax bracket in your retirement? Are you a driver? Are you currently working a crapload of overtime and making around 95k as a driver? You are getting killed on taxes. If you only have 20k and you are around age 50 then you are way behind on retirement savings and will not be close to having a high tax bracket retirement. Skip the 401k roth and max out your regular 401k and save on the tax hit now since your retirement income will be lower. You can always open a Roth outside of the 401k if you can swing it? The Teamsters pension in 15 to 20 years is icing on the cake. Plan on it not being there just to be safe.:wink2: [/QUOTE]
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Roth or normal 401K
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