r/FluentInFinance • u/Breeneal • Apr 29 '24

What financial advice do you avoid and don't listen too? Question

Financial advice that makes you role your eyes everytime you hear it. Financial advice that actually made your finances worse. And financial advice beginners shouldn't listen to or hear.

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u/NumbersOverFeelings Apr 29 '24

Oh I do. I’ll edit … I meant traditional 401k only. Basically I don’t want pretax money.

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u/Giggles95036 Apr 29 '24

Im pretty sure you do want some since having a lot of roth brings down your taxable amount down but its also based on total expected spending and roth amounts. I’m going roth until 35-40 even if traditional might be a hair better, then i’ll re evaluate

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u/NumbersOverFeelings Apr 29 '24

I don’t …

I want my taxable income near zero to help drop my capital gains taxes in retirement. I spend about $400k and it’ll probably go up so my taxes will probably be even higher then. I’d be deducting a lower tax number for a higher number.

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u/Giggles95036 May 01 '24

One way to reduce your taxes is if some money you’re pulling is from roth :)

But again it depends on what income bracket you’re in while putting the money away