davemartin88
Full time employment: Posting here.
- Joined
- Aug 26, 2008
- Messages
- 812
I'm early retiring at the end of the month after taking a package at Megacorp- was given 30 days notice last week, 10/3 is the last day on the payroll.
Given that Megacorp had a company match for their 401k plan, we've deposited our pretax savings in that plan but now that I won't be working, considering whether we should start depositing in a 403b plan through my wife's employer. We would have to replace her monthly income from other taxable investments but seems like it would make sense to contribute to the max in her plan to take advantage of the tax deferral.
Haven't investigated the choices we would have thought I'd check my assumption that this makes sense. My wife is under 50 and while the sums involved are relatively small, the only concern I had is that the money wouldn't really be available for nearly 10 years to avoid early withdrawal penalties although if she leaves work (likely in about 5 years), there are some options to get at this money.
Thanks in advance.
Given that Megacorp had a company match for their 401k plan, we've deposited our pretax savings in that plan but now that I won't be working, considering whether we should start depositing in a 403b plan through my wife's employer. We would have to replace her monthly income from other taxable investments but seems like it would make sense to contribute to the max in her plan to take advantage of the tax deferral.
Haven't investigated the choices we would have thought I'd check my assumption that this makes sense. My wife is under 50 and while the sums involved are relatively small, the only concern I had is that the money wouldn't really be available for nearly 10 years to avoid early withdrawal penalties although if she leaves work (likely in about 5 years), there are some options to get at this money.
Thanks in advance.