Where should I be saving after Roth IRA and teacher pension? Hello, I am a 24 year old public school teacher in NJ, making a base salary of $60k. With extracurriculars and side gigs, my total income per year comes to about $74k. I max out a Vanguard Roth IRA ($6500), and 7.5% of my base salary is put into my pension (NJ TPAF mandatory contribution, about $4k). These contributions total to about $11k, whic…

Vanguard Roth IRA – funds For a roth IRA for a teenager, which vanguard funds do you recommend I get? submitted by /u/ImOnReddit1319

19 year old, just opened an IRA I just opened my Roth IRA with Fidelity, contributed my 6,500 from my savings. This is my current portfolio. Nothing crazy, pretty straightforward FNILX (S&P 500) – 60 % FZROX (total stock market index)- 20% FSPSX (international index) – 20 % No Bonds at the moment, but will intergrate with time Would love to hear thoughts and recommendations…

Need Help with Retirement Roth IRA – 18 Year Old Hi there. I (18M) want to put 100$ into a Roth IRA every month. I will probably increase that around my early 20s when my income is a little higher. I’m thinking about retiring when I’m 60 or so, maybe around 2065-2070. I set up automatic investments and I want to be hands-off with it. I just called up Fidelity and they recommended Fidelity Free…

Roth IRA % 0.11, that seems awful low, Been doing good with my occupation, and I’m about to start a new job, I went to the bank to look into opening a Roth IRA and my bank gave me what I think is a low percentage rate of 0.1 , as the title says, I’m an electrician and don’t know much about finance, but that seems like almost nothing, can I find better rates somewhere else? Looking fo…

Are there any reasons to not roll over a 401k into an IRA? I have two 401ks from prior jobs and have had them for years. I was thinking it may be time to consolidate them into an IRA with Vanguard, which is where I have my Roth. Both have funds from Vanguard, so I’d probably just mirror that if I rolled them over. Figured it made sense to ask here if there’s something else I should be considering. Any …

My dad just offered to match me $5 per every $1 I put in my ROTH IRA. How do I maximize this situation? He made this bananas offer to me on the phone tonight. He’s offering $5/$1 for the first year, $4/$1 the second, and so forth down to $1/$1. My dad is extremely well off and earning a lot of money in retirement through pension, social security, extremely wise investments that keep earning, and still runs a consulting business. He owns practicall…

Roth IRA + Backdoor IRA Split for phase out bracket? I make 150,000, which is in the reduced bracket for ROTH IRA ($138,000 to $152,999). 1) Can I contribute the limit for ROTH IRA 6500*(1-(150000-138000)/15000)=1300. Then contribute 6500-1300=5200 to traditional (which I’ll convert to roth ira immediately). 2) How is different from doing a straight backdoor ira (6500 in traditional, then convert …

Just so I am understanding correctly about 401k match and Roth IRA… My current 401k match is 4% which is what I contribute. The advice is to do that and then open and try to max out a Roth IRA, correct? Or should I just increase my contributions to my 401k? submitted by /u/jamba_juul

Can I withdraw (without penalty) money that I deposited into my Roth IRA but not yet invested? I have some money that’s been deposited into my Roth IRA but it hasn’t been actually invested it. Can I withdraw it penalty and tax free? submitted by /u/itistimbo

Just opened Roth IRA, any advice? Hi everyone hope y’all doing well- first time here so my apologies if this post is redundant or confusing. I’m in my mid 20s and just opened a Roth IRA. So far, I have put all of my $ into VT but was wondering if that is not the best thing to do? Are there other funds I should be putting all my $ into or should I not be putting my $ into just 1 …

LPT Roth IRA This is targeted at young and employed people. After a Roth IRA has been open for 5 years, you can withdraw principle without penalty. Tip – open a Roth as soon as you have a paycheck. Doesn’t matter if you can’t afford to fund it now. Some places will open one no fee no minimum. (But don’t be that guy… Put in at least $50 or so.). You’ll need…

What to do with Roth IRA if projected to hit income limit? I haven’t been good about consistently contributing to my Roth IRA so it’s very small right now (~3,300) but I’m in a place now where I could max it. I will never hit the income limit to contribute if I stay in my current line of work, but when I marry my girlfriend we are projected to hit the income limit with our household income. Not totally …

How does the backdoor Roth IRA work? How does the backdoor roth IRA work, I understand if you hit the income limits you can’t normally contribute to a Roth IRA and that you have to do the backdoor method. What is physically stopping me from just contributing to a regular roth IRA anyways? I know robinhood right now offers a Roth IRA, can’t I just contribute to that account even if…

If I’m looking to open a roth IRA at 18 years old, what should I be careful? Like I know I shouldn’t have to pay fees for my Roth IRA. Is there anything I should look out for thats out of the norm? Where should start my Roth IRA account? I’m thinking about Schwab or Vanguard? submitted by /u/mikeoxmalss

Should I combine my rollover IRA with my roth IRA? I moved a previous employer 401(k)’s into my Vanguard to keep everything in one place and it went into a new traditional IRA account called “Rollover IRA”. I now have 3 accounts now: Rollover IRA (combines all my previous employer 401ks, pre-taxed money) Roth IRA (I contribute to this annually, post-tax money) 401k plan (my current employer’s 4…

Roth IRA income limits are for AGI, right? We maxed Roth IRAs earlier this year and just had a big income increase. If we make enough traditional 401k contributions our AGI is below the Roth IRA income phase out limit. That counts right? submitted by /u/Firm_Bit

Should I have money sit in SPAXX in Fidelity Roth IRA? New to this. Did a bit of searching and it seems like it’s basically a temporary place my money gets stored in when I transfer funds or sell, and it collects something like 4% ish interest in there. Why would I want to have any money in there at all? Shouldn’t I be putting all the money into actual investments? submitted by /u/grandmas_n…

401K and IRA question If I understand correctly, the maximum contribution limit for ANY 401K is 22,500, no matter the tax bracket I’m in. I have both a pretax 401K and roth 401k through my employer, so I can only put in a maximum of 11,250 into each? Am I allowed to contribute an additional $6,500 to my IRA accounts (I’m under 50, single and making over $150,000 per …

Roth IRA vs Mega Backdoor Roth Hi all, I currently have access to both a Roth IRA as well as a Mega Backdoor Roth from my employer. Is there an advantage to contributing to one over the other if given the choice? I think the only advantage is that for the Roth IRA you can choose your own investments, while for the Mega Backdoor, you’re restricted to only what your employer of…