Discover the tips and strategies that will help you achieve your retirement goals.

I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.

It all starts right here on Ready for Retirement. for retirement.

Hi, everyone, and welcome back to another episode of Ready for Retirement.

I'm your host, James Knoll.

Today we're going to be talking about what you should be doing if you're in the 24% tax bracket when it comes to savings.

Should you save to your pre-tax 401k?

Should you save to your Roth 401k? Should you save to a brokerage account? There's a lot of options,

and you're likely asking yourself what makes most sense, considering what I might be in for in

retirement. So that's exactly what today's episode is based on, and it comes from a question from

Karen, who is a listener and Karen says this.

She says, do you think someone in the 24% federal tax bracket who is planning to retire in two

years should max out their 401k instead of contributing to an aftertax brokerage account?

And if the 401k has a Roth option, should we take it?

I'm the money person in our household and I feel like I have everything figured out as far as our retirement income and expenses, but I'm out of loss when it comes to taxes and RMDs and it's

freaking me out. My husband plans to retire in December of 2024 at age 64, and I plan to remain

working an additional two to four years part-time, just enough to get full benefits as I am four years younger. We have a lot of our portfolio on pre-tax accounts. We have $1.40,000 in $450,000 in an IRA,

and we also have $20,000 in Roth IRAs as my husband maxes out his backdoor Roth each year. He will be getting a

pension, which we plan to take as an annuity when he is eligible, and that will be $3,370 per month.

I plan to take Social Security when I am 65 at approximately 2680 a month, and that will be $3,370 per month. I plan to take Social Security when I am 65

at approximately 2680 a month, and we will wait until he is about 67 for him to take Social Security

and our combined Social Security will be about $5,000 a month at that point. Wouldn't this put us

...