To be fair, these aren’t really “catchup” contributions for us, as we’ve been saving aggressively and aren’t really catching up. But we can afford to continue stashing, so we are... This year will include:
- $7k to his/hers Roth (via the backdoor*)
- $7,200 to HSA (which we accumulate/invest)
- ca.$12k in mandatory 401(a) contributions
- ca. $18k in employer match to 401(a)
- $26k to optional 403(b)
- $26k to optional 457(b)
We’ve debated doing some of this as Roth contributions but have ultimately decided against it. Thus, aside from the Roth IRAs and HSA, all contributions will be traditional/deductible.
What about the rest of you? If you’re 50+ are you taking advantage of the available catchup contributions? If you’re not there yet, do you plan on doing so? Or, if you’re already retired, did you do so prior to retirement?
Happy New Year!