<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > double catchup?

double catchup?

December 18th, 2011 at 01:43 am

Am looking at increasing my withholding for my 403B this upcoming year. Since I turn 50 this year, I qualify for catch-up. And I will be catching up. My task for this weekend is to figure out whether I can play catchup for both my 403B and for my Roth.

Posted in IRA, Stocks & DRPs, 403 doings | 5 Comments »

5 Responses to “double catchup?”

  1. MonkeyMama Says:
    December 18th, 2011 at 02:22 am 1324174949
    1324174949

    Some client was asking me about some tax break her husband was telling her to take through her paycheck. (I have no idea what she was talking about). Anyway, she was asking me about tax deductions, and I told her it would help to turn 50. Ha! (She is close).

    Congrats on the double catchup potential! Even if you don't max out this year, I am sure you will soon enough. Something to work up to...

  2. frugaltexan75 Says:
    December 18th, 2011 at 04:26 am 1324182386
    1324182386

    Enjoy your catchup Smile

  3. SavingBucks Says:
    December 18th, 2011 at 05:49 am 1324187341
    1324187341

    You can catchup on both! I have a 457b and am slightly over the 50 mark - I do the super duper catchup allowed by my employer because I did not max out in my younger years (amount will be $34,000 in 2012). I also do the Roth IRA for $6000 (extra $1000 for those who are at least 50).

  4. creditcardfree Says:
    December 18th, 2011 at 02:53 pm 1324219982
    1324219982

    Catchups sound like bonuses to me!!

  5. SavingBucks Says:
    December 18th, 2011 at 06:20 pm 1324232431
    1324232431

    Catchups are bonuses to us in the long run! It is my own money taken out of my check not a freebie from my employer (local government). $34,000 taken out of my check in 2012 means a lot of belt-tightening for our household. DH turns 50 in 2012 and also contributes the max for both his 401K and Roth IRA. So it will be a lean year for us but I think will pay off later. I am hoping to retire in early 2015.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]