401k or roth-401k
Hi,
I recently learned of Fire although retiring early has always been a goal. However, I am confused about if I should be putting my funds into a regular 401k or roth-401k. As far as I am aware I make too much to contribute to a roth IRA?
I am 37 years old with ~400k in 401k (25% roth / 75% pre-tax) through my company. I max this out (~25k + 9% company match). I also have 30k in HYSA and 30k in a brokerage acct. I spoke with a financial advisor and he said always put money first into the Roth 401k but I feel like realistically my income will be lower once I retire? I will also have a very small pension (1k if I retire at 50, 2k if I wait until 64)
Salary is 200k yearly. I own a home that has 280k left on a 4% mortgage (200k equity). I live in a HCOL state.
My current spend is around 65k (I expect to need closer to 100k in retirement with Healthcare and I want to move) and I am adding an additional 2k a month into brokerage right now.
Open to any advice on how to maximize! Thank you