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re: Roth IRA
Posted on 1/21/22 at 1:28 pm to DukeSilver
Posted on 1/21/22 at 1:28 pm to DukeSilver
Not the OP, but here's my situation.
Wife and I are over the cap, and I'm a W2 employee. Wife is W2 and has her 401k maxed out. My new company offers nothing, but will roll a 401k out before end of year.
What should I do?
Talk to me like I'm 5.
Wife and I are over the cap, and I'm a W2 employee. Wife is W2 and has her 401k maxed out. My new company offers nothing, but will roll a 401k out before end of year.
What should I do?
Talk to me like I'm 5.
This post was edited on 1/21/22 at 1:29 pm
2
Posted on 1/21/22 at 3:30 pm to thegreatboudini
quote:
Wife and I are over the cap,
If you are over the cap, the only thing you can hope is that you are only slightly over the cap, because the contribution limit is phased out, it's not a hard cap. You'll have to file your taxes to know exactly what your AGI is and then calculate how much of the $6k you can actually contribute for that tax year.
Posted on 1/21/22 at 3:42 pm to thegreatboudini
put what you can in ROTH, how much over are you?
put rest in TIRA
get a side gig and get a damn solo401k
you can put a shite ton of money away in those depending what you make. I have one but i work for myself and write myself my own W2 salary.
good luck!
put rest in TIRA
get a side gig and get a damn solo401k
you can put a shite ton of money away in those depending what you make. I have one but i work for myself and write myself my own W2 salary.
good luck!
This post was edited on 1/21/22 at 3:48 pm
Posted on 1/23/22 at 6:59 am to Fat Bastard
Thanks for the tips.
Recent fortune for both my wife and I has me scrambling to figure out what to do.
Recent fortune for both my wife and I has me scrambling to figure out what to do.
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