Maxing Roth IRA, but then, 401(k) Roth or Traditional? Basically the title. I’m 31M, maxing out my Roth IRA. I have a 401k that’s currently set to 4% Roth contributions, but is that the best or should I switch it to traditional? Is there a way to figure out which combo is best? I feel some people say all Roth is the best, while others say a blend is better. submitted by /u/tcwmatt …

Not sure if I should rollover my 401(k) into a Roth IRA Preview your reddit post Clear 38729 Hi all, looking for advice on whether I should roll-over my current 401k into a Roth IRA and, if so, how exactly I do it. Current Assets: 35k in cash 147k in Roth IRA 31k in 403(b)at my current employer 90k in an old 401(k) from a former employer which I’m considering rolling to a roth IRA if this is an optio…

Should i max out my Roth 401k? Hi everyone, I’m 23F have been working for about 8 months after graduating college. I make 93k right now, no debt at all. My take home before any retirement contributions is 2580 bi weekly. I have about 35k in my hysa. I started contributing 25% to my Roth 401k to try and max it out this year. Is this the best decision? I don’t have any other in…

Unsure about moving $16k in trad 401k to roth I simply don’t know whether I should just pay the taxes now and transfer the total. I only plan on continuing to contribute to my roth 410k, where I currently have $17k invested, so the money will continue to sit in the traditional account if not transfered. Some additional details in case it matters: I’m in my mid twenties making a little over…

Over contributed to my roth ira in 2024 Any suggestions? Turbotax says to sell the amount I over contributed and pull it from my roth. Im under 50 so according to turbotax the limit is $7,000 i didn’t realize i went over the cap $4,617.53 robinhood 2550.24 Fidelity 7,167.77 i contributed do i just sell a little and pull like 200$ out to not get a 6% penalty every year? submitted…

Should I get a Roth IRA? I’m 20, I know absolutely nothing at all about personal finance, investing, and I barely know what taxes are. I’ve only filed taxes once using TurboTax, and I’m barely making any money–buuuut– I was curious if I should make a Roth IRA account at the bank? I’ve been hearing that it’s a good idea if I ever plan on retiring, but every single vide…

Roth 401K plus Roth IRA I am 39 and finally hit a point where I can max both a 401K and IRA. I just got an 18k/yr bump and I’m saving every bit of it. It’s going to bring my current contribution levels up to max w/ enough left over to keep the HSA looking healthy. My understanding is that the benefit of Traditional IRA/401K’s is you can invest more money now thanks to …

Roth 401k vs Roth IRA. Are there benefits to investing in both? I am a small business owner and just opened up a solo traditional and roth 401k. I also have a Roth IRA. I wont be able to max out my 401k this year. What would be the downside of putting the 7k dedicated for my Roth IRA into my Roth 401k? Are there unique advantages to the Roth IRA over the Roth 401k? submitted by /u/sideout25 …

Saving for retirement – should I start a Roth? I moved to the US four years ago and would like to understand whether I am saving for retirement efficiently. In particular, I’d like to know whether I ought to be contributing to a Roth. I would guess that my income in retirement should be lower than today, which makes me think a Roth is not worth it. But I know a Roth has some other benefits t…

I think I screwed up trying to backdoor Roth… 2023 tax year was the first time my income exceeded the Roth contribution income limit. Made a nondeductible $6500 contribution to a new traditional IRA in April 2024 for tax year 2023 and converted it to my roth account thinking it was that simple for a backdoor Roth. However, I hadn’t known about the pro-rata rule at the time… I had ~$30k si…

Roth versus tax deferred For middle to high income earners wouldn’t making a Roth contribution be a better investment for someone in their 20’s because the tax free nature of the earnings far exceeds any break you get by contributing to tax deferred accounts ? submitted by /u/Low-Dependent6912

Rolled over Roth 401k into Roth IRA. Didn’t realize employer match was pretax. Although it seems it may be common knowledge, I was unaware that not all of the money in my Roth 401k was Roth. After I left my previous job last year, I rolled over my Roth 401k (& employer match) into my Roth IRA with Vanguard. As you can guess, I have a fat tax bill on the employer match portion of my Roth 401k. Is there anything I can do at …

401k Trad vs Roth w/ Mega Backdoor Hi all, new here. I’ve been reading guides on the order of contributions and many people recommend Roth. Usually this is considered without consideration of also having a Megabackdoor Assuming I max out my 401k w/ mega (~60k+) and backdoor iras, should I still keep my regular 401k contribution pre tax or Roth? At my income bracket, a pre tax w…

Roth IRA for a dummy I’m 29 years old and have no investments. I know very little about personal finance but I do know that saving my pennies made off of my hourly wages won’t get me where I want to be down the line. I understand that a ROTH IRA seems to be a safe bet for a retirement fund and I want to get one going. I’m considering using Robinhood but in truth I d…

How to split 401k vs Roth 401k I am 30 currently make roughly 115k a year and have a total of 66k in 401k. I contribute 10% to my 401k and 7% to my Roth 401k, neither of which are matched. Idk of if I should split this differently or if I should start up a standard Roth. submitted by /u/oneandonlydylan

How much can I contribute to a Roth IRA if my gross pay last year was $25K where $22K went directly to a Roth 401K? Does this mean I can only contribute to a Roth IRA 2024 for a max of $3k? (Let’s say I have extra money in my savings account from the past few years that’s been sitting there that I could contribute to to a Roth IRA.) submitted by /u/siargaowaves

How does backdoor Roth Work? Posting on behalf of a senior (low income, etc) 65 y , f , still working but may not for too long has a Traditional pre-tax IRA with $150K (open for 5+ years) has a roth IRA open for 5 years but only 15k in it How to convert the pre-tax IRA into Roth? I know any time they take $$ out , it will be taxed at regular income bracket Plan was to take …

Should I max my Roth for 2024? 23M, just finally got a job after graduating in June. Currently making 50k per year, hopefully an extra few thousand in bonuses. I’ve contributed $1,000 so far but it was all a transfer from my old job’s Roth 401k, so I don’t believe that counts towards my total. I have 6k in my normal investment account, $2.5k in a HYSA, and $500 in checking. …

Paying taxes twice on Traditional to Roth conversion? A couple years ago I ended up contributing to my Roth IRA when I was over the income level for contributing. I ended up recharacterizing the money (about $6000, post tax) as a traditional IRA. This year, I converted that money back into my Roth and received a 1099-R from Vanguard counting the entire amount as taxable income to be reported (an ex…

Should I switch to roth 401k? My current salary is just under $80k, with my contractual raise I’ll be making a little over $81k in a little over a month. I have a promotion that’s reasonably likely coming in the first half of 2026 that’ll raise my salary to $100k. I’m currently contributing the maximum to my HSA and 10% of my salary to my traditional 401k. My employer contri…