I messed up my Roth IRA My husband and I usually do a backdoor Roth contribution. The other day I contributed $3000 directly to my Roth IRA and realized my mistake too late. The amount was never invested. I withdrew l that cash $3000 about 2 days later. Unfortunately, my Roth IRA says I can only contribute $4000 to it now . It still shows as me having contributed $300…

Is it smart to have a Traditional IRA and a Roth IRA? I just got out of college and I am new to investing and I am wondering if I should have both a traditional and a Roth IRA or just get a Roth IRA what do you think? submitted by /u/InquisitiveR3dditor

Roth Vs Traditional Math I have always had the idea that Roth contributions are obviously better for me since I am only 24 years old and am not in the highest tax bracket. I also plan to be in a high tax bracket when I am withdrawing money from my various accounts far down the line. I thought this until today when I looked at the long capital gains tax rates and dividen…

Transferring from traditional IRA to Roth IRA So I asked about this as some point and I was told that if i transfer my money in my traditional IRA to a new Roth IRA that it’ll be taxed. But I just read online that if you transfer the money into a new Roth IRA within 60 days of receiving the check then there are no taxes or penalties. Has anyone done this? This is my first retirement accoun…

Should I try to max out my Roth IRA for 2024? Overview: 22 years old, graduating Spring 2025 with job lined up after graduation. $10k in my checking, $7k left in a college fund, access to $5k in subsidized loans, ~$15k in my Roth IRA (I started it when I was 18 and haven’t touched it the past two years due to college). I owe roughly $4,000 for my Spring semester, and expect about $4500 for …

Traditional 401k vs Roth 401k. Is traditional a no brainer? Just to preface I have read all the relevant wiki articles but am still confused why some people such as Dave Ramsey recommend a Roth 401k. Here’s some info about my situation. I am 23 years old and just started my first real high-paying job. I am making 90,000/year. My employer matches 50% of my 401k contributions up to 10%. So overall that mea…

Roth 403 or regular 403b If I plan to retire at 55 (rule of 55), which would better fit my needs. At 55 I get a pension of 5.5k a month. Would I be exempt from the early 10% withdrawal fee for the Roth 403b if I am only pulling from my contributions prior to age 59 1/2? submitted by /u/Speech_Path

How should I diversify my Roth IRA? 19 year old who plans to open a Roth IRA for long term retirement. Plan on opening with $1-2k now and then putting in $1,000 every year. How should I go about investing that $1k each year? VOO? SPY? VTI? Something else? And should I split it into multiple funds or put all into one fund? submitted by /u/KnowingCresent735

What should I start investing my Roth IRA into? Starting in January I will begin to use a budget I’ve been preparing for. My target is to make monthly payments throughout the year to max out my contributions. Out of curiosity what ETF or such should I begin to invest my Roth into starting out? This is retirement so I’m open to any suggestions. submitted by /u/OldPreference1239 …

Can I contribute to Roth IRA in 2025 Roth 2025 Income limit is 165k. My salary is 171k. If I max out my 401k at 23.5k next year, am I under the threshold? I know its MAGI used for the roth limit determination? submitted by /u/No_Wrap_2694

Would you recommend 401k or Roth? -Age: 25 -72k total comp Which one – Roth 401k or Roth IRA would you recommend loading up on? What are the advantages of each for retirement savings? Regardless, I will likely arrange to have 15% of net deducted into retirement contributions. submitted by /u/Heavy_Can_6962

Backdoor roth rules clarification So far due to post-graduate training my SO and I have been at income levels we could contribute directly to Roth IRA and have done so. This year I transitioned from post-grad training and income increased from 35k to 142k in August. SO makes 110K so we will be beneath income limits this year but will be over limit next year. Unfortunately SO emp…

Withdrawing from a Roth IRA I need to pull money out of my Roth account. I had contributed 18k total, and want to withdraw 5k. All the money is currently invested. Can I sell any stock I want from my portfolio in order to get that 5k without having to pay taxes? submitted by /u/newmanz4

Confused about Roth contribution I hate finance, so sorry in advance if I’m dumb. I met with the work financial guy today and he said something and I’m still confused. I thought my max Roth contribution was 7500/year. I can split my contribution between 401k and Roth and it maxes out at 22500 or something. But does that mean I could put 22500 into a Roth in one year? Or after y…

Should I max out my Roth IRA? 21M, in my last year of college getting my master’s degree in engineering. I recently just got a TA position that will pay 2200 a month, which will cover rent and other expenses. I had an internship last summer and have some money left from that as well. I have a subsidized loan through the government, and because I did not know I was getting th…

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…

should I do a roth conversion at my age/income? To provide context: I’m a contractor, aged 64 and planning to retire at age 67. Up until now my gross income was about $110K. But just found out that for 2025 I may get a bump to $170K. It’s possible that bump could continue through 2026 but unsure. As a contractor I could also be out of work without warning I will be contributing the maximum a…

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…

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 …

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 …