Evolving Personal Finance » Entries tagged with "solo 401(k)"

We Maxed Out All Our Retirement Accounts for the First Time!

It’s Tax Day for 2021 and our final transfer to Vanguard has gone through, so I can officially announce that Kyle and I maxed out ALL of the tax-advantaged retirement accounts available to us for the first time EVER! We filled up: Kyle’s traditional 401(k)The employee side of my traditional 401(k)The employer side of my traditional 401(k)My Roth IRAKyle’s Roth IRA In recent years, we capped our retirement contributions at 20% of our gross income because we were simultaneously saving for our house down payment. With our house purchase complete, we had no reason to limit our retirement contributions (except, you know, cash flow). We set our goal of maxing out all the traditional accounts available to us in part to keep our AGI low enough to qualify, as best we were able to, … Read entire article »

Filed under: retirement