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re: Anyone here invest in both a ROTH IRA and Traditional IRA?
Posted on 7/7/13 at 4:25 pm to RickAstley
Posted on 7/7/13 at 4:25 pm to RickAstley
That 6% is my pension plan. State puts in 14%. I can't put more than 6.
0
Posted on 7/7/13 at 4:30 pm to 11thACR
What's PV?
So, you rec a traditional over Roth?
So, you rec a traditional over Roth?
Posted on 7/7/13 at 4:33 pm to wegotdatwood
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.
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.
Posted on 7/7/13 at 5:55 pm to wegotdatwood
you sure do have a lot of questions 
Posted on 7/7/13 at 6:18 pm to yellowfin
I like the advice on MB quite a bit. I also feel if I have a question, maybe other posters have that same question.
Posted on 7/7/13 at 6:33 pm to wegotdatwood
quote:Good for you. There is some excellent input to be had here.
I like the advice on MB quite a bit
Posted on 7/7/13 at 8:07 pm to wegotdatwood
it's good for brainstorming but I would never take advice from a screen name without talking to a real professional in person
Posted on 7/7/13 at 8:45 pm to yellowfin
yea i'd suggest reading up elsewhere (multiple places) about what you read on here
Posted on 7/7/13 at 8:50 pm to jimbeam
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.
Posted on 7/7/13 at 8:59 pm to yellowfin
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.
Posted on 7/7/13 at 9:52 pm to wegotdatwood
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.
Unfortunately, last year I couldn't put into in due to earnings. I guess it's a good problem to have.
Posted on 7/7/13 at 10:05 pm to MikeD
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.
Posted on 7/7/13 at 10:15 pm to wegotdatwood
quote:not with that attitude!
Unfortunately, I'll most likely never be over the income threshold.
Posted on 7/8/13 at 6:31 am to wegotdatwood
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.
Posted on 7/8/13 at 7:23 am to MikeD
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
Posted on 7/8/13 at 11:55 am to ell_13
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
Posted on 7/8/13 at 11:58 am to yellowfin
Fin
Did you get that e-mail I sent you?
Did you get that e-mail I sent you?
Posted on 7/8/13 at 11:58 am to yellowfin
With what earned income? Young kids?
Posted on 7/8/13 at 3:42 pm to jimbeam
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
Posted on 7/8/13 at 3:46 pm to yellowfin
quote: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?
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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