Hi
I'm blessed (?) to be in a high tax bracket currently and am hoping to RE in 2-3 years. While still in the grind I'm maxing out my 401k to take advantage of the tax deferred savings.
Question is: should I also add an individual IRA to my savings plan while employed, or just direct that money into my taxable account? The idea behind the individual IRA would be to do a Roth conversation later on when I'm in a lower tax bracket.
What is the optimal strategy here?
I'm blessed (?) to be in a high tax bracket currently and am hoping to RE in 2-3 years. While still in the grind I'm maxing out my 401k to take advantage of the tax deferred savings.
Question is: should I also add an individual IRA to my savings plan while employed, or just direct that money into my taxable account? The idea behind the individual IRA would be to do a Roth conversation later on when I'm in a lower tax bracket.
What is the optimal strategy here?