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Message
Best way to invest
Posted on 8/9/11 at 4:56 pm
Posted on 8/9/11 at 4:56 pm
What is the best way to invest if you are considered a highly compensated employee (therefore are capped at your 401k deposit amount), and also can not contribute to a Roth IRA or IRA due to too high of a salary? Is just buying stock and mutual funds your recommendation? TIA
2
Posted on 8/9/11 at 5:13 pm to joeygalloway9
This sounds like a question that could better be answered in the OT.
They have more experience with topics like this then those of us in the money section.
Typically the average income in this section is at least 150k less per year on average then over there.
They have more experience with topics like this then those of us in the money section.
Typically the average income in this section is at least 150k less per year on average then over there.
This post was edited on 8/9/11 at 5:15 pm
Posted on 8/9/11 at 5:19 pm to Baylor
On a serious note, as long as you have all your tax advantaged avenues fully funded, then after that its totally up to you.
Are you bullish or bearish?
Are you a risk taker or conservative?
It all depends on you.
Are you bullish or bearish?
Are you a risk taker or conservative?
It all depends on you.
Posted on 8/9/11 at 5:20 pm to joeygalloway9
quote:
joeygalloway
Are you/were you in the Navy?
Posted on 8/9/11 at 5:27 pm to I Love Bama
Oh and I missed this the first time I read your post.
There is no limit of income to contribute to a traditional IRA.
So you can be Bill Gates and still put money in an IRA.
As a matter of fact, if you do it right you can contribute to a ROTH no matter your income as long as you transfer it from a traditional at the end of the year.
So there is your answer.
Put it in an IRA.
There is no limit of income to contribute to a traditional IRA.
So you can be Bill Gates and still put money in an IRA.
As a matter of fact, if you do it right you can contribute to a ROTH no matter your income as long as you transfer it from a traditional at the end of the year.
So there is your answer.
Put it in an IRA.
Posted on 8/9/11 at 5:30 pm to Baylor
Thanks for the info, I will look into that.
Posted on 8/9/11 at 5:49 pm to joeygalloway9
quote:
As a matter of fact, if you do it right you can contribute to a ROTH no matter your income as long as you transfer it from a traditional at the end of the year.
For clarity, you can contribute $5k into a non-deductible traditional IRA, then convert the TIRA to a Roth.
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