Nonprofit. I can choose between a 403(B) or a Roth 403(B) deferral. Company does a 5% match.
I’m 35. Income is 110k (between two full time jobs, so that may change at some point).
But for the first time in my life I don’t have just survival money. So I’m trying to start now. Better late than never. Starting at zero, literally.
Anyway! Need advice. Any and all.
Doing my first investment account at work…. Need advice on which to do.
byu/BlackAsphaltRider inpersonalfinance
Posted by BlackAsphaltRider
2 Comments
Elect to have your 5% go to the Roth
The employer match *must go to the traditional side to earn them a deduction in the year they make the match
This way you get the best of both worlds-
If you later need to reduce income/ you can flip over to the traditional plan- say for Fafsa applications or avoid a agi/tax bracket bump scenario
[https://www.reddit.com/r/personalfinance/wiki/commontopics](https://www.reddit.com/r/personalfinance/wiki/commontopics)
[https://i.imgur.com/lSoUQr2.png](https://i.imgur.com/lSoUQr2.png)