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gadorg OP t1_j6kr5ho wrote

Reply to comment by alwayslookingout in Contribute raise amount to 403b or Roth 403b? by gadorg

Are you saying I should just increase my 403b contribution or open up a traditional 401k account and contribute to that?

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alwayslookingout t1_j6krm8s wrote

Sorry. I just realized you said you have a 403b. It’s functionally the same as a 401K. You can’t just open a 401K unless you own a business.

Contribute to the trad 403b, not Roth 403b. Do a backdoor Roth IRA if you want to do Roth.

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gadorg OP t1_j6kzsko wrote

When you say traditional 403b, is that my existing 403b through my employer? Or a completely separate one I would open through a provider (Vanguard, Fidelity, etc)?

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alwayslookingout t1_j6l20uh wrote

Your employer’s. It’s the same thing as the 401K. You can’t just open a 403b/401K on your own unless you own a business.

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gadorg OP t1_j6l6kn0 wrote

Okay, that's what I thought you meant. Thanks, I'll go ahead and increase my existing contribution to my employer 403b. Is there a reason why that's a better way to go than increasing my contribution to my employer Roth 403b (after tax money)?

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