Anyone here invest in both a ROTH IRA and Traditional IRA? - Page 2 - TigerDroppings.com

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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


That 6% is my pension plan. State puts in 14%. I can't put more than 6.





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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


What's PV?


So, you rec a traditional over Roth?






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ell_13
USA Fan
Alex Box
Member since Apr 2013
20667 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


The wife and I have Roth's only. I started out as a teacher and it made sense to invest after-tax dollars while we were in such a low tax bracket.

I'm now in a much higher-paying job (not that that would have taken much) but we still contribute to the Roth as a balance to our 401Ks so that we can have more flexibility when we retire in terms of when and from where we withdraw depending on what will be most financially beneficial at the time.






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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
67591 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


you sure do have a lot of questions





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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


I like the advice on MB quite a bit. I also feel if I have a question, maybe other posters have that same question.







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NC_Tigah
LSU Fan
Member since Sep 2003
50468 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

I like the advice on MB quite a bit
Good for you. There is some excellent input to be had here.






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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
67591 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


it's good for brainstorming but I would never take advice from a screen name without talking to a real professional in person





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jimbeam
USA Fan
University of LSU
Member since Oct 2011
29999 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


yea i'd suggest reading up elsewhere (multiple places) about what you read on here





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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


I do, that's where I get some topics to discuss further. Many times it's a topic a friend of mine had a conversation about something and I bring it here.





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ell_13
USA Fan
Alex Box
Member since Apr 2013
20667 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

I would never take advice from a screen name without talking to a real professional in person


I agree. But places like this are good to get input on topics that you can eventually discuss with the professionals. Other "screen names" have different knowledge/experiences and I like hearing/learning from them because there is always something that hadn't crossed my mind and could be useful in that in-person meeting.






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MikeD
LSU Fan
Baton Rouge
Member since Jan 2004
1352 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


I max out the Roth every year. I can't see a down side into maxing out something that allows you to earn tax free interest.

Unfortunately, last year I couldn't put into in due to earnings. I guess it's a good problem to have.






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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

I can't see a down side into maxing out something that allows you to earn tax free interest.



People think the gov will tax those accounts down the road. Therefore, being taxed twice.


quote:

Unfortunately, last year I couldn't put into in due to earnings. I guess it's a good problem to have.





Unfortunately, I'll most likely never be over the income threshold.






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jimbeam
USA Fan
University of LSU
Member since Oct 2011
29999 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

Unfortunately, I'll most likely never be over the income threshold.
not with that attitude!






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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
40371 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

People think the gov will tax those accounts down the road. Therefore, being taxed twice.


Unlikely.

Possible, but unlikely.

If they do anything, they'll just kill the program to new contributions, making the only option to be the taxed out traditional.

If things are so bad that they seriously consider taxing a Roth twice, the tax will be the least of your concerns.






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geauxbears08
LSU Fan
Houston, TX
Member since Jun 2011
44 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

Anyone here invest in both a ROTH IRA and Traditional IRA?
I max out the Roth every year. I can't see a down side into maxing out something that allows you to earn tax free interest.

Unfortunately, last year I couldn't put into in due to earnings. I guess it's a good problem to have.


You can do a backdoor contribution via traditional IRA rollover... my wife and I do this every year. It's a loophole. But make sure you do it immediately so you effectively have zero capital gains in your traditional IRA when the rollover is made.

LINK






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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
67591 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

Other "screen names" have different knowledge/experiences and I like hearing/learning from them because there is always something that hadn't crossed my mind and could be useful in that in-person meeting.


and some are just straight dumbasses


I will however look into starting a ROTH for my kids in the near future from this thread






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weisertiger
LSU Fan
Lake Charles, LA
Member since Sep 2007
1867 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


Fin

Did you get that e-mail I sent you?






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jimbeam
USA Fan
University of LSU
Member since Oct 2011
29999 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


With what earned income? Young kids?





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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
67591 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

Fin

Did you get that e-mail I sent you?


forgot to check, will get back with you tonight

quote:

With what earned income? Young kids?

very young but I could w-2 them for $5,500 from my company then contribute that to a ROTH. Haven't looked into yet but it may work






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jimbeam
USA Fan
University of LSU
Member since Oct 2011
29999 posts

re: Anyone here invest in both a ROTH IRA and Traditional IRA?


quote:

very young but I could w-2 them for $5,500 from my company then contribute that to a ROTH. Haven't looked into yet but it may work
wouldn't you have to pay work comp and all that jazz? would there be costs to be able to do what you're planning?






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