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re: Is there any reason to have an IRA and a 401k?
Posted on 4/5/24 at 8:53 am to Bourre
Posted on 4/5/24 at 8:53 am to Bourre
Depending on income you can also take advantage of backdoor Roth’s. For example, you can make an after-tax contribution to your spouse’s IRA, and then almost immediately convert it to a Roth.
1
Posted on 4/5/24 at 9:40 am to Free888
quote:
For example, you can make an after-tax contribution to your spouse’s IRA
You can backdoor both your Roth IRA, as well.
If your company 401k allows it, you can also put after tax money into your 401k up to the IRS limit for combined employee/employer contributions. Then immediately roll that after tax money out of your 401k into your Roth IRA.
This post was edited on 4/5/24 at 9:43 am
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