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This year, my husband now has access to a Roth 401k.

We're both 44 years old. We currently fully fund his regular 401k, and it is typically matched 15% at the end of the year. Right now, he grosses $3500 every two weeks. After deductions and $840 into his 401k, he nets about $2100. We typically get about $2000 back on our federal income taxes because of the child tax credit (2 kids). We also take the standard deduction, so I'm thinking the new tax laws won't affect us much.

I work three days a week (substitute teacher) but don't make much. I need service credit towards my pension, and I'm able to do this while my kids are at school.

My concern about the Roth 401k is that we will essentially be putting more money into our retirement accounts to the detriment of our current net income.

We currently have about $750k in his 401k, about $250k in Roth IRAs, about $60k in a rollover IRA, and about $580k in an ESOP. Our house is paid off and our only debt is an $18000 loan from my dad for a car we just bought.

Our 13-year-old starts high school next year which will increase our yearly tuition costs from $10k to $18k.

I'm not a budgeter. We contribute heavily to our retirement accounts, have paid off our house, and live within our means. In our earlier years, we were really frugal. Now, I like to live a bit freer.

My dad suggests that we do the Roth 401k but decrease our contribution a bit. Aside from waiting on his first paycheck of the year, is there a calculator that I could use to estimate his net paycheck if we elect to do the Roth?

After writing all of this down, I'm leaning towards the Roth.

Any words of advice?

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