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HeartAttackTiger
LSU Fan
Member since Sep 2009
111 posts
 Online 

Roth IRA

My company doesn't offer a 401K so I'm beginning the process of looking at a ROTH IRA versus traditional IRA. Thoughts?


Champs
LSU Fan
Geaux Tigers
Member since Feb 2008
10512 posts

re: Roth IRA
only negative is you get capped in a roth


UpstairsComputer
LSU Fan
Prairieville
Member since Jan 2017
1052 posts

re: Roth IRA
Do it.


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31
DukeSilver
Houston Astros Fan
Member since Jan 2014
2203 posts

re: Roth IRA
quote:

only negative is you get capped in a roth
You have the same cap in a traditional.

OP, are you W2 or 1099?


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50
winston1970
LSU Fan
Huntsville
Member since Sep 2020
601 posts

re: Roth IRA
quote:

My company doesn't offer a 401K so I'm beginning the process of looking at a ROTH IRA versus traditional IRA. Thoughts?


You sound young - Roth all the way


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80
HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
41708 posts
 Online 

re: Roth IRA
Roth. Max it.
If you phase out due to income later, then do traditional


slater
Member since Dec 2020
30 posts

re: Roth IRA
more pros / benefits to a roth ira vs traditional ira....


dovehunter
LSU Fan
Baton Rouge
Member since Sep 2014
739 posts

re: Roth IRA
Roth if your AGI is less than $129,000 or $204,000 filing jointly. No brainer. Do it for 2021 as you have until 4/15 to fund. $6000 a year max. If over then a traditional IRA but please do it and do it today.


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tgrmeat
Member since Sep 2020
1833 posts
 Online 

re: Roth IRA
Rather than starting a new thread about it - I had a backdoor question I will ask here. When doing a backdoor Roth do I have to do it all at one time or can I make several periodic backdoor contributions throughout the year?


Ross
Auburn Fan
Member since Oct 2007
45568 posts
 Online 

re: Roth IRA
I don't understand why IRA contribution limits aren't raised to the same as the contribution limits on a 401(k) in the event you don't have a 401(k) at work.



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50
Puffoluffagus
LSU Fan
Savannah, GA
Member since Feb 2009
5144 posts

re: Roth IRA
quote:

Rather than starting a new thread about it - I had a backdoor question I will ask here. When doing a backdoor Roth do I have to do it all at one time or can I make several periodic backdoor contributions throughout the year?


Technically you can, as trad to Roth conversions are not supposed to be subjected to the once a year IRS rollover limit.

With that said, certainly the cleanest option would be to do a lump sump trad contribution then convert. You can also slowly contribute to a trad over the course of the year and then convert to Roth, but you'll be subject to tax on any gains while in the trad account at the time of conversion.


tgrmeat
Member since Sep 2020
1833 posts
 Online 

re: Roth IRA
quote:

Technically you can, as trad to Roth conversions are not supposed to be subjected to the once a year IRS rollover limit.

With that said, certainly the cleanest option would be to do a lump sump trad contribution then convert. You can also slowly contribute to a trad over the course of the year and then convert to Roth, but you'll be subject to tax on any gains while in the trad account at the time of conversion.


Thanks. That's what I was thinking. I think I will just wait until I have it all at once.


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Mark Makers
LSU Fan
The LP
Member since Jul 2015
2162 posts

re: Roth IRA
I've got another Roth IRA question...again instead of starting a new thread.

I've just about completed my first year of contributing max to a Roth, nearly $6,000. I've currently got 100% of this through Vanguard in the VTI total stock market ETF by some recommendations on here of starting there with a low balance. At what point would ya'll recommend diversifying that into multiple ETFs?


Dale Gribble
USA Fan
Member since Aug 2014
190 posts

re: Roth IRA
I think this depends on your age and risk tolerance. The general consensus is to increase the amount of bonds in your portfolio as you get closer to retirement. I would recommend some international exposure regardless of age. Google Vanguard 4 Fund Portfolio. I’m in my mid-30s and my portfolio looks something like this:

60% VTI US Stocks
20% VXUS International Stocks
15% BND US Bonds
5% BNDX International Bonds

You could gradually increase your international exposure by buying VT (combination of US and International stocks) instead of VTI periodically. Keep maxing out that Roth. You’ll be happy you did.


Mark Makers
LSU Fan
The LP
Member since Jul 2015
2162 posts

re: Roth IRA
Thank you, I'm 33. I feel like i'm behind and probably should have started this Roth a long time ago. I have the hardest time grasping how much I should have put away for my retirement by now at my age. I'm not quite sure if i'm setting myself up for success or failure
This post was edited on 1/19 at 12:56 pm


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10
Fat Bastard
Atlanta Braves Fan
Member since Mar 2009
57950 posts

re: Roth IRA
quote:

$6000 a year max.


7k if he can use the 1k catch up contributions depending if he is 50 or over

6500 catch up for 401k

This post was edited on 1/19 at 7:11 pm


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