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I have the oppertunity to contribute to (catch up) a 457 plan for the next three years. I am 49 years and I can't retire yet, age 50 is the earliest. I have worked with the County for 30 yrs. I now have savings that can augment my expenses. This will allow me to reduce my taxable income (contributions are not taxed). I can start this Agust for 2007 that will be for 5 months and put away 72% of my wages. For the next two years I can put away about 30% per year.
Most of my savings is from equity from real estate. Does it make any sense to use money (equity) that has not been taxed to augment expenses for the above?
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