I was looking my wife's employer retirement plans. She is slated to have a pension, but it looks like she also has either a 403b or 457b. I've done some cursory research into these. A 403b seeemx to be just like a 401k. The 457b distributions can be tax free, but it has less investment options. Either plan's contributions are "before-tax," and can lower our taxable income.
My initial thought is to use the 457b for that tax free withdrawal, but am I missing anything here? What say you all? Which plan would you choose, 403b or 457b?
Some details about us, we are both 41 in VHCOL state. I contribut the max to my retirement account, HSA, and we max out both IRAs each year. I also have a couple investment properties that cash flow.
My initial thought is to use the 457b for that tax free withdrawal, but am I missing anything here? What say you all? Which plan would you choose, 403b or 457b?
Some details about us, we are both 41 in VHCOL state. I contribut the max to my retirement account, HSA, and we max out both IRAs each year. I also have a couple investment properties that cash flow.
Statistics: Posted by Dabeachi — Tue Aug 27, 2024 11:46 am — Replies 4 — Views 163
