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Tafkam Hokie
Joined: 10/07/1999
Posts: 40,227
Likes: 21,984
Tafkam Hokie
Founder Subscriber

Out of curiosity, when you say "maxed out your 401k" do you mean

you are making the maximum contribution to get all of the company match that is offered, or do you mean you are putting $20,500 in your 401k per year (or $27,000 if you are over 50 years old)? I hear the phrase "maxed out 401k" a lot, but it can mean different things to different people.
Posted: 08/15/2022 at 01:01 PM ET
(In response to this post by ElbertoHokie)

Thread Replies (46)

Full Thread →
So you've maxed out your 401k and aren't eligible for IRA deductions.
ElbertoHokie • 08/15/22 09:07 AM ET
backdoor Roth*
ShockWaveVT • 08/15/22 03:28 PM ET
Hide money/investments offshore…..😏
RJHokie • 08/15/22 01:51 PM ET
Are you eligible for an HSA? There are fairly low contribution limits
Tafkam Hokie • 08/15/22 01:48 PM ET
This and Roth are the correct answers. **
Tank • 08/15/22 02:48 PM ET
Blue horseshoe loves Anacott Steel**
MAHokie69 • 08/15/22 01:22 PM ET
Out of curiosity, when you say "maxed out your 401k" do you mean ◄
Tafkam Hokie • 08/15/22 01:01 PM ET
I've hit the $20,500 already. **
ElbertoHokie • 08/15/22 01:07 PM ET
Then, yeah, the only other options are a Roth IRA
Tafkam Hokie • 08/15/22 01:51 PM ET
I checked all my holes and none of them loop.**
ElbertoHokie • 08/15/22 08:55 PM ET
Plastics.
MEHOKIE • 08/15/22 12:56 PM ET
…this is your wake up call
chumley • 08/15/22 12:53 PM ET
frozen concentrated orange juice futures**
Hokie Chris • 08/15/22 12:53 PM ET
529 plans for the kids/grandkids/nephews/etc**
psychobilly • 08/15/22 12:46 PM ET
Definitely have one for the kid. Can probably up the contribution. **
ElbertoHokie • 08/15/22 01:22 PM ET
Roth, followed by tax free muni bonds**
HokieJay • 08/15/22 11:29 AM ET
Roth IRA**
Guy LeDouche • 08/15/22 11:18 AM ET
Buy all of the hot holiday toy now, sell in November=profit**
Kudelski • 08/15/22 10:51 AM ET
It's surprising how big a business retail arbitrage is**
HokieDan95 • 08/15/22 11:02 AM ET
Yep. Buy "NASA" and Nirvana T-shirts at Goodwill and proceed to EBay.**
dolph • 08/15/22 11:18 AM ET
Powerball. Don't be an idiot and invest in Mega Millions the odds are lower**
HokieDan95 • 08/15/22 10:37 AM ET
Look at I Series Treasury Bonds...currently paying 8%+ APR
BleedinOandM • 08/15/22 10:27 AM ET
Like 10k limit? Hold >5yrs to maturity? **
ColoVT82 • 08/15/22 11:18 AM ET
Correct; and they aren't for everybody. Make your own decision.**
BleedinOandM • 08/16/22 06:39 AM ET
Minimum hold time is 1 year
Tafkam Hokie • 08/15/22 01:04 PM ET
Thnkx for answer.**
ColoVT82 • 08/15/22 01:13 PM ET
You can still invest in a traditional IRA but you can't deduct those ...
vt90 • 08/15/22 10:24 AM ET
And back door them into a Roth if you don't have other IRAs.**
Hokiehouse7 • 08/15/22 11:11 AM ET
HSA if you meet the criteria**
coshokie • 08/15/22 10:23 AM ET
The IRON CROSS on the Craps table**
darnellm • 08/15/22 10:20 AM ET
19 black **
TomTurkey • 08/15/22 11:40 AM ET
May as well bet on Double Zero green.
Hokie CPA • 08/15/22 12:22 PM ET
After tax account for what you want in the market.
vawter85 • 08/15/22 09:59 AM ET
Assuming this is long-term investing, I'd also try to focus on
Tafkam Hokie • 08/15/22 10:05 AM ET
for now.........**
HOKIERIT • 08/15/22 10:00 AM ET
Cash**
OXVT • 08/15/22 09:52 AM ET
Have you tried the mega-backdoor?
Fatman • 08/15/22 09:42 AM ET
TWSS**
FfxStationHokie • 08/15/22 09:45 AM ET
Edge gave the best advice. Invest with after-tax dollars.
RoswellGAHokie • 08/15/22 09:41 AM ET
You could send some dough my way. I'll look after it for you. There are
Hurley09 • 08/15/22 09:38 AM ET
The old fashioned way. You yearn it!**
TomTurkey • 08/15/22 02:20 PM ET
Step 1: Buy a townhouse in Blacksburg, rent it out 7 weekends a year.
hoosnowahokie • 08/15/22 09:24 AM ET
A nice theory, except even a townhouse in Blacksburg is at least
Tafkam Hokie • 08/15/22 12:09 PM ET
Thought about not selling our house in Tuscaloosa. Our 3 bedroom house was
ElbertoHokie • 08/15/22 10:07 AM ET
I think the key is to continue investing, whether it be tax free or not
EDGEMAN • 08/15/22 09:21 AM ET
Hookers and bitcoin?**
FfxStationHokie • 08/15/22 09:20 AM ET
First I formed a hedge fund so Congress would ensure I only pay 20% taxes
dolph • 08/15/22 09:17 AM ET