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I’m within the nominal 22% tax bracket, however with children and the $2k youngster tax credit score utilized for every, my fee is diminished considerably to the decrease finish of the 12% bracket. I anticipate being within the 22% vary at retirement in 20 years.
I’ve the choice to contribute to a Roth 401k along with a conventional 401k.
Because it stands now, I am setting apart 12% however to maintain my paycheck pretty constant I am contemplating placing in 6% in every. This quantity would exceed the restrict for a Roth IRA.
Am I improper in considering this is among the exceptions through which I might wish to contribute to a Roth 401k as a substitute of my conventional 401k?
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