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re: Tax gurus: IRA vs. Brokerage Account Distribution
Posted on 8/2/16 at 6:57 pm to Soft_Parade
Posted on 8/2/16 at 6:57 pm to Soft_Parade
Look up backdoor Roth IRA. This is what I do as we don't qualify for deductible contributions to a traditional IRA just like yourself.
1
Posted on 8/2/16 at 9:47 pm to Big Saint
OP don't forget that your tax bracket at retirement will be lower most likely. I'm assuming you are over 30% tax bracket now, but how much income will you need in retirement? In retirement if all your income (or most) will be drawn from retirement accounts then you only have to withdraw exactly what you need to spend.
What is your age? If you are in your 50s then I agree it may make sense to go straight brokerage. But if you are younger, then I think your tax savings would be worth it.
What is your age? If you are in your 50s then I agree it may make sense to go straight brokerage. But if you are younger, then I think your tax savings would be worth it.
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