I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025
If you are a high earner looking to lower tax now because with a traditional Roth assuming you will be in a lower tax bracket when you retire, what about if you make too much to get any tax benefits now for a traditional Roth?
For the backdoor Roth IRA. For someone who contributed the max to their traditional IRA and does not take the tax deduction. Is that money that was intended for tax deduction used to pay the taxes when rolling over the funds from traditional to Roth?
Roth accounts are probably KEEPING YOU POOR. Learn how to dodge the taxes you defer later, don't just give up and pay taxes on your retirement savings.
Inherited IRAs are carved out largely because they remain titled in the original owner's name and I believe TIN. The actual inherited IRA should be titled something like, “John Doe (deceased June 2019) Inherited IRA FBO of Jane Doe, Beneficiary.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025
I do 38k to Roth every year.
8k individual Roth plus 30.5k into Roth 401k, both include catch up contributions
In addition one can convert traditional 401k to Roth 401k.
Ones growth will always outweigh contributions. Which one do you want to pay taxes on?
To get to 25% I have been maxing my 401K as well as doing MBDR. Any benefit to back door Roth vs MBDR? And is the MBDR subject to pro rata rules?
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If I have an existing rollover ira, I won’t be able to do this?
If you are a high earner looking to lower tax now because with a traditional Roth assuming you will be in a lower tax bracket when you retire, what about if you make too much to get any tax benefits now for a traditional Roth?
For the backdoor Roth IRA. For someone who contributed the max to their traditional IRA and does not take the tax deduction. Is that money that was intended for tax deduction used to pay the taxes when rolling over the funds from traditional to Roth?
Why is someone typing into the mic!
can you have roth 401k and roth IRA (backdoor in this case) at the same time?
I keep telling my wife that Backdoor is important for everyone
I don't bother with the backdoor Roth, but I do use the megabackdoor (luckily for me, it's completely automated).
Roth accounts are probably KEEPING YOU POOR. Learn how to dodge the taxes you defer later, don't just give up and pay taxes on your retirement savings.
Inherited IRAs are carved out largely because they remain titled in the original owner's name and I believe TIN. The actual inherited IRA should be titled something like, “John Doe (deceased June 2019) Inherited IRA FBO of Jane Doe, Beneficiary.
WHY IS THERE ALWAYS TYPING IN THE BACKGROUND?!!