Saving for retirement – Your 401(k) is maxed out — now what?
Abstract: What should retirement savers do if they’ve maxed out their 401(k) contributions? As this article explains, some plans allow participants to make after-tax contributions to their traditional or Roth 401(k) plans. Another option is to contribute to a traditional IRA, Roth IRA or annuity. Savers may also want to consider their health savings plan. A sidebar discusses a “back door” Roth IRA option for high-income earners.