The internet home for Hoos anywhere and everywhere.

The Corner

Scarsnhoos

Joined: 06/24/2014 Posts: 2180
Likes: 1724


My strategy is maxing out any Roth savings vehicle possible. Those tax free


withdrawals to me are better than any tax savings you might see now.
For example if you have a million in your Roth accounts at retirement, that’s potentially 200-300k plus in tax savings depending on your tax rate.
Also using my parents for real world experience, the old adage of “your tax rate will be less in retirement” is a myth. Especially if you’ve done well for yourself and saved some money.
I certainly see your point about keeping the government away from your hard earned money for sure.

(In response to this post by Zhoo)

Posted: 06/15/2021 at 5:24PM



+0

Insert a Link

Enter the title of the link here:


Enter the full web address of the link here -- include the "http://" part:


Current Thread:
 
  
529 Plans and estate planning.... -- Zhoo 06/15/2021 12:23PM
  Will there even be tuition in the future? ** -- ryno hoo 06/15/2021 1:55PM
  529's can be great wealth transfer tools. -- SouthernHoo 06/15/2021 12:58PM
  I didnt know you could use your 529 for this -- Zhoo 06/15/2021 5:12PM
  Thanks for posting the link ** -- 105A 06/15/2021 3:57PM
  Not sure all states, but Va you have to use within 30 years -- Chesapeake HOO 06/15/2021 12:33PM
  Right now I have two accounts in my name -- Zhoo 06/15/2021 1:29PM
  100% yes. Can each have an account for each kid -- hoos2008 06/15/2021 3:15PM
  Tax deduction yes. But can contribute more -- hoos2008 06/15/2021 5:38PM
  Its a great way to get great gains early on -- Zhoo 06/15/2021 8:42PM
  Illinois....... -- Zhoo 06/15/2021 5:08PM

Get the Sabre Edge!

Subscribe to TheSabre.com!

UVA Hoops Fans, Check Out Intangible

vm309