New to fidelity Roth IRA Hi I just graduated and unfortunately late to the Roth IRA. These are the three i invested in: FITLX (40%), FSPGX (40%) FXAIX (20%) because they did not require a minimum investment. I’m otherwise not sure if this is the best to invest in for my Roth. I have about 30 years until retirement. If this strategy is not good; what do you recommend I…

Advice for parents IRA My parents purchased GIB (fixed annuity ) in 2011 The value of their contribution has stayed the same for 13 years (2024 now ) They purchased Retirement Cornerstone B through Equitable Unfortunately they realized too late they got suckered and the only people who made money was the company and agents through fees Is there any product that the…

Roth 403B vs Roth IRA I have been delving deep into the minutiae of retirement in the past several months and could not find a real answer to this question. Here’s my current situation, and my question. -M27, teacher (lowish salary, but I make do currently). -5/6 month emergency fund complete in HYSA. -41k total in student loan / car debt (all 5% or less). -I max ou…

Should I convert rollover IRA to roth IRA? Details in post I have ~70k in a rollover IRA that I’m considering converting to roth. Self employed so I don’t have a employer 401k to move the funds back into I don’t qualify for roth ira contributions so I plan on doing backdoor roth (my income exceeds the limit) I’m in the 24% tax bracket I have the ability to pay whatever taxes I’d owe on the conversion n…

Roth IRA and Roth 401k Hello everyone, I have been contributing to my Roth IRA for several years now but 2023 is the final year I will be eligible to contribute due to income limits. My employers offered a Roth 401k so I began contributing in December. Is there any benefit to maxing out my final contribution for 2023 for my Roth IRA ? Or should I use that money to …

Should I put money into Roth IRA for 2023? Just starting! Hello, I hope this is the right place for this question. I am 23f and just starting a Roth IRA account. Very exciting! But I’m a little confused about how it all works and am still doing research. I saw online that we can still contribute to the 2023 account until April 15, and wanted to ask if this would be a good idea? Does it make a signific…

Mutual fund vs. IRA vs Roth IRA Hello all! I have a mutual fund but wanted to roll it over to a Roth IRA because I read that the tax penalties are better when I would need to access that money at retirement or should I need to access that money early in case of an emergency. I called the company that I’m with to see if I could talk to someone about which account would be right…

What IRA account is best Hello,I am a 41-year-old male getting a late start. I make $157,000 a year, with an average annual bonus of $15,000 to $20,000. I am currently maxing out my work 401(k) up to the IRS limit ($23k).I figured the next steps would be to open an IRA, but I’m conflicted about what type to choose. Someone mentioned I might need to consider a Roth Bac…

What to do with traditional IRA I have a traditional IRA that was originally a 401k rollover to trad IRA 10 years ago when I left a former job. I didn’t even realize at the time I could just let it stay there and not roll it over. I know, I got bad advice. Regardless, in its traditional IRA form post-rollover I have not been contributing to it in that time, only letting it inv…

A Roth IRA and an Inheritance walk into a bar… 36 years old. New to investing. I have just started a Roth IRA at Fidelity. (I know, I know…a little late) So, only $6,500 currently. I think I should do some split of FSKAX/FTIHX (Unless you all have a better idea?) in how I choose to invest that. Perhaps 60/40… 80/20? What‘s best? Match the market? I want to make as much as I can to catch up i…

How do I open a Roth IRA? What percentage of my income should I add to it annually? I’m an independent contractor and a total newbie to planning for retirement. submitted by /u/cokonutcake

I’ve read up on Roth vs traditional IRA multiple times – I still don’t get it. I understand that Roth contributions are post tax and traditional contributions are pre tax. What I can’t wrap my brain around is how a traditional IRA could even come close to outperforming a roth account. The rule of thumb I always hear is “if you think your tax rate will be lower in the future, go traditional.” Federal income tax rates range …

Just Opened ROTH IRA Just opened up my Roth at 20 y/o in October. I understand the point of a Roth is that you pay taxes first and your earnings are tax free after retirement. What I’m confused about is, what does me paying taxes now look like? Is it because the money I’m contributing to my Roth has already been taxed through my paycheck? Or am I going to get a tax …

Are there any pitfalls in rolling an IRA back to a 401k to “make room” for backdoor Roth IRA conversions? Here’s our current situation: My wife and I are income-ineligible for Roth IRA contributions We’d like to boost our Roth IRA holdings to give us a little more tax flexibility later in life My wife and I each have traditional IRAs that are a combination of 401k rollover and after tax, non-deductible cash contributions. The value of each of our …

Advisor wants me to roll over traditional IRA into RothI RA? As the topic states, my financial advisor at the financial services company I hold two retirement accounts (traditional IRA and Roth IRA) wants me to roll over my traditional into the Roth. His reasoning is based on the future prediction that federal tax brackets will increase over the next few decades, and that the Roth IRA will be the best opt…

Help me settle this: 401k vs Traditional IRA vs Roth IRA for someone just starting out with retirement planning I’m currently navigating retirement account options and have been told I should open a ROTH IRA for the following reasons: No penalty for early withdrawals of contributions Tax advantages No RMD’s More investment options I’m in my early 20 (self-employed), I have a small amount saved up (sub $50k) and a similarly sized Stock/ETF portfolio. As…

Mega Backdoor Roth IRA I have been trying to follow the flow chart the past few years and have been maxing out my 401k, backdoor Roth IRA, and putting some extra money into a personal brokerage account with Schwab and diversifying my portfolio with standard ETFs following advice from Bogleheads. I am switching jobs/companies to a place that offers Roth 401k/Mega Backd…

Roth IRA Position Changes? I am 19 years old and am now contributing the max per year. I have close to 4k in it but I feel as though my positions are not the best for someone my age. I have it at Charles Schwab and I’m exactly 50/50 on SWTSX and SWLGX. I feel like I can go something a little more risky at my age? Are target funds a good option? Any advice you can give is …

If you are rolling over 24k from old employer’s 401k plan to a new rollover IRA and then to a Roth IRA… WYD: How would you go about moving money from the rollover to the Roth to avoid heavy tax fees? Would you move about 5k per year from the rollover into the Roth account? submitted by /u/sk8tergurl100

529 vs Roth IRA contributions? I basically can save 3k a year in my kids’ 529 or max out my Roth with my extra $ currently. I know a 529 gives some tax benefits (on 3k its nothing crazy, few hundred $ a year I think)…but starting to think I might be better off just going the Roth IRA route and can use my Contributions (before 60) tax free for college funds. This lets me kin…