What to do after you maxed out 401k?
Assuming mega backdoor Roth is not an option. Want something more than savings income, but less than personal trading/investing. Already maxed out Roth ira. Seems like a good option would be index fund, you just have to pay capital gains tax, any other downside I should know about? TC: 120 #401k #savings
front door roth
[Blind] Check out this post! Can I have a personal Roth IRA account while having the 401k account with company? (Misc.) https://us.teamblind.com/s/DDWAfK1G
How would a back door not be an option?
Oops I meant mega backdoor Roth
I just opened my first Capital One account. Awesome rate on the 360 savings
Make sure to check the rate periodically cause they can change it without telling you ;)
Thanks for the tip!
At $120K, presuming you are younger than 40, max out all the aftertax savings you can do. Roth 401K instead of traditional 401k, if you have kids put as much as you can into 529, max out your HSA at $7K/year. Your likelihood of paying higher taxes in the future both because rates will rise as well as your income is high.
You can invest in taxable account.
Buy stocks
Read https://engineerseekingfire.com/8-critical-decisions-for-a-successful-investing-strategy/ Check out the investment order (1st section). It will answer your question in full detail
With that TC, you could put money into an IRA
Oh yeah forgot to mention I did that too