Originally Posted by
Grumble
402g limit is 53,000 total. 35k employer, 18k employee. You'll make too much to qualify for a Roth IRA.
As far as the 401k, you can contribute your 18k under either Roth (pay taxes now) or traditional (par taxes later) or any combination. Personally I contribute 50/50 Roth/traditional. Spreads the tax liability between now and then.
Bottom line, you can't contribute more than 18k/year and be tax deferred on either end.
You can and should contribute to a traditional IRA (after every pre tax option is maxed out) then roll it into a Roth. At least the funds will grow tax free and I don't believe there is a limit to the amoun you can roll. It may create a tax on it but still less than taking it out when you start withdrawing it.
But this is a pilot board and your talking finances so.....there's that.......