Question: I'd like to have a better balance of taxable / non-taxable income for retirement. Up to this point, I have only ever made traditional 401k contributions. Should I just switch cold turkey and only make Roth 401k contributions going forward, or is there a benefit to some type of split? Is there an ideal target ratio of taxable vs non-taxable retirement funds?
Background:
Pre-tax retirement savings of $1.2M (started 401k contributions immediately out of college and have maxed out my contribution for the last 20 years. Set it and forget it - it works.)
Post-tax retirement funds (Roth & HSA) of $100K (Roth was via a backdoor transfer, and HSA is maxed each year with the goal of using it in retirement)
Tax Rate: Federal 24% State N/A
Corporate: Corporate 401k match has been suspended "temporarily" due to Covid.
Married - 48 years old. Maybe retire in 20 years?
Other: Emergency fund fully funded. 3 kids starting college over the next 8 years is my primary impending financial burden but hopefully I don't need to slow down my retirement contributions.
Submitted August 25, 2020 at 09:19PM by FlyingPartridge https://ift.tt/32qYixR
