IRA Limits seem too low Why are the limits on IRA contributions so low for the average person? I know if the limit was higher I would contribute more. It doesn’t seem like contribution rate have increased enough. submitted by /u/Current-Ranger-7673

Any way to manually make up 401k contribution for 2024 like you can with IRA? I noticed I was a little short on maxing out last year by a few hundred dollars. Not the end of the world of course but a little annoyed I didn’t increase my contribution percentage earlier to max. I know #firstworldproblems. submitted by /u/Iaokim

Should I be doing better in my Roth IRA? Need someone with a reality check for me. I started my Roth 4 years ago, and have been contributing max to a 2045 VG retirement target date fund. Current stats: Total Cost – 28,014 Total Market Value – 30562 Total Gain – 2548 All – 9.30% 3 year rate of return – 8.90% 1 year – 13.40% Is this good? Is there something I should be doing better? I f…

Should I create a Roth IRA? Okay obviously silly question because we should all create one but my current situation is saving 9% to 401k (with 9% company match) and I have it increasing by 1% every year for now. I also am putting about 10% of my paycheck towards an emergency High Yield Savings. Lastly I just enrolled to put 8% of my paycheck towards my company’s Stock Prog…

Wife began withdrawing from IRA at 59.5 and then began a job So I have to wonder what the tax implications might be. I posted this over at r/Tax but they quickly removed my question. You’d think the r/tax would allow one to ask a tax question, but I guess not. Hopefully I can get an answer here. submitted by /u/retiredfromfire

2024 Roth IRA Contribution Hey everyone, I have a seemingly simple question. I just opened a Roth IRA this month (January 2025). Is it an option to contribute to a 2024 Roth if I didn’t have one in 2024? I’m just hopping on the train with all this and I would love to get another year of investment if I still can. Thank you! submitted by /u/Brestess

Can I Transfer from Vanguard Brokerage into my Roth IRA? I was working for a company and I quit less than a year so there was no match and I had to roll over into a “rollover brokerage account”. That money is just sitting and I was wondering if I could transfer it from Vanguard into my Robinhood Roth IRA. I feel like I could be making more interest in it if it is in my 401k or Roth IRA because I hav…

Dumb question about IRA contributions I have a nice problem: I don’t know where to save all of the money I want to save. I am maxing out my 401k already. ✅ I can fully fund my traditional IRA, but my income is too high to take the tax deduction since I also have access to a 401k. So I’m essentially paying taxes twice: using post-tax money to fund the IRA, then paying taxes when I wi…

Roth vs. traditional IRA & HSA I am 63. Everything is paid off. I am still working. I have traditional IRA ( with IRA CDs), Roth IRA , HSA, and savings including CDs. I was hard headed due to higher interest rates, focused on CDs and maxing out IRA & HSA, with my least focus on Roth. Is the case for Roth that since withdraws not taxed, my focus should be on Roth first? Should…

Must I pay taxes on Backdoor Roth IRA if Trad IRA was funded with after-tax dollars? Early 50s, earning over the max for regular Roth IRA, but trying to add to retirement funds. I’m maxing out yearly contributions to my 401k (employer also matches 4%), and I’m looking to put more money away for retirement in the most beneficial way. I don’t have any IRA at the moment. So, I was considering doing Backdoor Roth. My understanding:…

Roth IRA or Backdoor Roth? Currently I make under the Roth IRA max income limit. But later on in the year, around October, my fiancé and I will be getting married and our combined income will be in the “reduced amount” Roth IRA contribution group and we’re planning on filing jointly. The reduced Roth contribution should come out to $5600 for our incomes jointly. I’m think…

Guidance Request: 401K to IRA (Empower to ?) For the past 6 months I have been reading through posts related to a question that been running through my head: “What should I do with the $200k I have invested in my previous employers 401k – managed by Empower”? The 5 year Rate of return with Empower (1/8/2020 – 1/8/2025) is 8.98% annualized, and 53.72% cumulative. I assume this is not bad? …

IRA / 401k do I combine? Hi all, I have an IRA with 100K+ in it that I converted from a 401K with a former employer. I now have a new employer and have started a new 401K that has a few thousand in it. Is there any benefit to merging the two accounts and bringing over funds from the old IRA to the new 401K? Any other tips or strategies are appreciated. Hi all, I have a …

Roth IRA or 403B, which is more important? Hi, I am a person under 30y/o who makes about $150k/yr. I work with a lot of older individuals who are telling me different things in regard to which account I should focus on more. Could anyone explain the difference between Roth IRA and 403B like I’m 5. I am currently contributing 15% of every paycheck towards the 403B and nothing towards the …

Retirement Contributions – 401k or Roth IRA? What should the split of my contributions to 401k / Roth? Background, I’m mid-40’s, no retirement savings until 37. Just over $100k salary. Now, I’m up to $135k in 401k and $35k in misc . stocks. Employer matches up to 5% of my contributions, which, by default, are in a standard 401k. My % contribution goes up 1% every year automatically and is …

Backdoor Roth IRA advise I am over the income limit for IRA contribution. I have a 401k and no IRA. Wife has 410k and 401k rolled over to IRA from previous employer. I am 51 years old. Does it make sense for me to open a backdoor Roth IRA now? I saw that for 2024 I have time till April to do this. Is this a straight forward this to do .. contribute to IRA and immediatel…

60-day “loan” from an IRA: how does it work? I have read that it’s possible to withdraw funds from a traditional IRA without tax or penalty, as long as the funds are replaced within 60 days. IRS Website I have an unexpected short-term expense coming up, and I would like to use the funds in my IRA. I will be able to replace the funds into the same account within 60 days. It’s a Vanguard acc…

Want to get my 18 year old started with a Roth IRA My daughter works and is in school with no debt and a few thousand in savings. I’d like to get her going with a Roth IRA, but she wasn’t interested in using my financial planner, which is fine. If we setup a fidelity or vanguard account, what do you recommend for a fund? Target fund, S&P, etc? Thanks everyone, this sub has been great. subm…

How to cancel a vanguard IRA contribution? I just now (around 9:15PM ET) contributed to my 2025 traditional IRA account for an external bank account, but I accidentally used the wrong bank, and that bank doesn’t have the funds ($7K) to make this transaction happen. I can’t figure out a way to cancel the transaction, and was wondering if anyone here knows? I tried calling Vanguard but the…

529 to Roth IRA if 529 isn’t 15 years old? From what I understand, I can do a rollover of up to $35,000 from my 529 to my Roth IRA if the account is 15 years old, or older. Unfortunately, the administrator of my 529 is saying the account was created in 2021, even though I know it was created when I was a kid 20+ years ago. My questions are: 1.) If I’m not eligible for a rollover, is ther…