Previous employer terminating 401(k) plan; should I move the money over to a Roth IRA? A previous employer I had from a few years back was acquired by another company and is terminating its 401(k) plan as part of the process. My 401(k) with them is currently sitting at around $15K. Should I roll the cash over into a Roth IRA? It’s my understanding that I’ll have to pay taxes on the $15K as part of the rollover process. For furthe…

Disney+ sued by Marian Price over IRA murder portrayal in “Say Nothing” submitted by /u/Sisiwakanamaru

Moving abroad next year, should I take my Roth IRA with me or leave it here? We are moving next summer and I have a Roth IRA along with mutual funds through Vanguard. Should I leave the Roth and transfer the mutual funds to my bank? I know there will be penalties. Trying to mitigate them. submitted by /u/InitialMasterpiece79

What is the appeal of a Roth IRA? Are there a lot of people who will be making more in retirement than they are now? As a single man I’m sure I’ll make far less in retirement (partial retirement) than I do now, so it seems like traditional IRA is the best bet for me. Are there people who will make more, though? How is that possible? Or is it just a case that some people have far more deductions now (kids, student loan interest, mortgage deduction) and won’t h…

Should I use a 401k and a Roth IRA simultaneously? I have a roth IRA already and I add to it monthly. My work provides a 401k that matches up to 3%. I’m thinking about contributing 15% of my pay into it. Would that be counter productive? It compounds right? So would splitting my money into two different accounts be worse? I could put the extra 15% into my Roth IRA and ignore my 401k. I’m new t…

Converting an ira to roth for an 80 year old. My mother asked me about converting her ira to a roth ira. I know the time horizon is not very long but I thought i would ask in here. Additional information her mother and father lived to be about 10-15 years She does not actually touch the money as she only spends her pension and SS She could move about 40k and still be in the 22% bracket. He…

IRA in limbo, did we screw up? My wife left a job in 2018 and we moved cities. She did not get re-employed full time until 2022. At the previous employer there was a retirement plan. We did nothing with that plan after moving, just left it. That company subsequently folded and all of retirement accounts got transferred into some trust company. Apparently there were some legal…

Rolled over IRA question My wife rolled over an old 401k into a vanguard IRA, and at the time, the customer service tried to match the type of funds that the 401k had. It’s in like 10 different funds. This is from 2022. Can she sell all of them and reinvest in target date fund? submitted by /u/nesblade

Question about IRA contribution wrt self employment Assume: self employed income: 7k in 2024 no other income (no w2 income, no capital gain) in 2024 expense for self employment: 1k fica: 1k Question: how much can I contribute to my IRA? 7k, 6k, 5k, or anything else? TIA! submitted by /u/wasabi-rich

Should I (22 Year Old) Open a Roth IRA? I am currently a college senior (will graduate in the spring). I have a part-time job that pays $4,000 a year. I was wondering if I should put this amount into a Roth IRA. My employer does not offer a 401(k). I am very financially responsible. I don’t spend a lot money – usually a fun trip to NYC or Boston once every six months. I don’t have a c…

529 or Roth IRA for college? I’m an older father and will be retiring around the same time my children start college. I have been contributing to 529s for them, but it recently occurred to me that there might be a better way due to my age. Is there any reason why I shouldn’t just put the 529 contributions into a Roth IRA instead? (I’d have to do a mega backdoor Roth) It se…

Which IRA should I choose? I’m 30 with some money put away. I went to my credit union and the IRA they offered accrued less interest than my money fund. I keep seeing on here (and, Dave Ramsey) that if you put away $500 a month for 30 years, it can make you a millionaire. So, where do I put the money? submitted by /u/MasterLaw7535

How to properly diversify Roth IRA account I hope everyone’s afternoon is going well. I am 19 years old and currently a college sophmore at my university. I was just wondering, what would be the best course of action for properly diversifying my portfolio. Currently I have just about $1100 invested into it and my current holdings are: AAPL, VOO, SPY, and NFLX. I have good growth from it …

Spouse unexpectedly got a job in August of this year and put our income well above the limit to contribute to a Roth IRA. What do I do with money I put in the Roth IRA this year? Subject says it all. I realized yesterday that we are going to blow well past the income limit to contribute to a Roth IRA. It’s a good problem to have, I know. Here is what I’ve done since I realized this: Opened a Traditional IRA Stopped automatic contributions to the Roth IRA and switched it over to the Traditional. With that being said, I …

Converting 401K Pre Tax to Roth IRA Using the 401K Balance? I’m looking for some advice or insight regarding converting my old 401K balance to my Roth IRA – and whether I can use the current investment balance to pay for the incurred tax the conversion will bring? Context: I (25 years old) was laid off from my job in the middle of the year – and I’ve been heavily investing my paycheck since I started wor…

Should I Convert my IRA to a ROTH IRA A little background – had a 401K IRA at my old firm, when I left, transferred the funds out and it is currently sitting in Fidelity as a “Rollover IRA” – it is just sitting there with 28k currently, only invested in 5 separate ETFs. I also have a ROTH IRA with Fidelity, which is sitting with about 49k. Considering the conversion. I am an account…

How to tell if I qualify for Roth IRA or not? Hi all, my salary is $148,500 per year, which puts me just ever so slightly above the $146,000 limit for Roth IRA contributions. I don’t totally understand whether or not my deductions (standard deduction) would put me back below the limit for Roth IRA contribution or not. If I want to contribute this year, should I put it into a traditional or …

Roth IRA contributions to 403(b) My organizations open enrollment period just opened and I noticed something new in the benefits. “Roth IRA Contributions: Employees now have the option to make additional Roth (post tax) contributions to the 403(b) plan. The limit on annual contributions is $7,000.” Is this a mega backdoor Roth? I already plan to contribute the max ($23,500) to …

Solo401k + Solo Roth401k + SEP IRA + Roth IRA? My accountant can’t seem to answer this question and I have to say – I’m completely confused. Can I contribute to a solo 401k and solo Roth 401k — as well as to a SepIRA, regular IRA and/or Roth IRA. Or do I have a single limit for ALL contributions based on my 1099 income (about $110k for 2024). (follow up question: would a Roth conversion ch…

Maxing 401k/Roth IRA I am currently 22 making a $93,000 salary. I know investing earlier is something everyone always wishes they did, and I am fortunate enough to be making high 5 figures this early on so I’m just wondering how I should split my retirement contribution for the most efficient savings My company does a 1-1 match up to 6% for the 401k and I am current…