My husband and I have all our retirement savings in traditional IRA and traditional 401K. I am no longer employed at age 61. He is employed full time and is 57, hoping to retire at 62. He contributes 13% to the company traditional 401K plan. I am concerned that we do not have non-taxable assets for retirement and will have text concerns when I am required to take my RMD at 70 1/2. My question is this. Should my husband contribute all he can to the company Roth 401(k), and then the remainder in the traditional? I realize we would be losing the immediate tax advantage now, but this was the first year it did not make sense for us to file longform, due to the new tax laws and I’m thinking now would be the best time to sock away some already taxed money. I’m hoping some financial experts here will offer advice.
Submitted May 14, 2019 at 08:31AM by DomesticCFO http://bit.ly/2JhpGYd
