Hello, thank you for allowing me to join! This is my first post. I look forward to learning from ya’ll!
Question: how do you decide between Roth401k or Traditional 401k?
My husband and I are on a covid pay reduction, so we decided to contribute to our Roth 401Ks instead of traditional for 2021. We decided this because 2021 will probably be our lowest income year, for the remainder of our careers. We are paying about an extra $10k in taxes for contributing to the Roth instead of traditional.
-Was it a wise choice to do the Roth 401k instead of the traditional 401k in 2021?
-How would you invest about $100k in 2021 with an income of $210k, married, no kids?
Our 2021 Investing:
Husband’s Roth 401k $19500
My Roth 401k $19500
Husband’s Mega Backdoor Roth $10500
My Mega Backdoor Roth $10500
Backdoor Roth IRAs $12000
Brokerage Account $14k to $20k
Any thoughts or advice would be greatly appreciated.