Question about Roth IRA How long are you supposed to hold the stocks that you have your IRA invested in? Until you retire? Let’s say I max out my Roth contributions every year by depositing $580 a month. Do I just keep buying $580 worth of stock every month until I retire? Shouldn’t I be investing the money I make from the stocks? submitted by /u/slinkipher

How much should I be saving in Roth and 401k? I’m a recent grad and my income will be 72k pre tax, around 54k post tax. How much should I save per paycheck and in what accounts? I have almost no savings currently but also no debt or loans. I don’t think my employer matches anything for the first few years I’m there if that makes a difference. I don’t have any health insurance premiums. I wa…

Retirement Savings – Roth 401k only vs Roth 401k and Roth IRA This question is about retirement savings. The advice I’ve gotten regarding the order in which to save is as follows, assuming you have no consumer debt and an emergency fund: Meet your employers 401k match Invest in your IRA If you max out the IRA, put more money in your 401k and max that out I was always under the impression that the reason …

Roth or Traditional 401K I am going crazy trying to decide if I should go with Roth or traditional 401K. I have read multiple Reddit posts, read the wikis, and watched YouTube videos over the course of the past few weeks and I still cannot decide. Currently 27, single, living in California, making $77K. I am maxing out my traditional 401K and Roth IRA, then investing a…

Is the “back door roth ira” just “conversion to Roth?” I usually call Vanguard and have them do the backdoor roth from traditional to roth for me, but want to try to do it myself today. I made the contribution into the traditional IRA yesterday. I can already see the funds in my vanguard account, and I see an option to “Convert to Roth IRA”. Is this option just the backdoor option? The vanguard re…

Roth 401k and the Rule of 55 submitted by /u/PoliPino1977

Roth IRA at 18? What do I do? I turned 18 last month and I have been wondering about opening a Roth IRA. I am not too well versed on how exactly it works, all I really know is the money is taxed now and I get it when I retire untaxed. I also heard I could take some out for buying my first house, but I am not 100% sure if thats true. Other than that, I dont really know how it…

Roth IRA & 401k????? I am 26. I have a 401k through work that I contribute to 15% of my income and have a 3-4% employer match. I just opened a ROTH IRA account for long-term investment. My question is, is it a good idea to have both? Or is it better to keep contributing to my individual investing account instead of ROTH IRA so I can also be able to cash it out whene…

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…

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 …

When Do You HAVE To Pay Taxes On A Roth Conversion? I just spent many hours researching this. You pay the estimated taxes on the conversion in the quarter that it is done, but you might not HAVE to. I can convert in 2024 and pay the taxes April 15th 2025. If you’re interested in knowing what you can do, keep reading. There’s a chart on page 20 of the IRS publication “About Publication 505, Tax Wi…

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

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 …

Can I do BOTH a reduced Roth IRA contribution And a backdoor Roth in the same year? Is there any reason to do BOTH a reduced Roth IRA contribution and a backdoor Roth in the same year? to get to the total $6,500 limit? or should I just ignore the fact that I can do a reduced Roth IRA contribution and just do a backdoor Roth for the full $6,500? submitted by /u/stresspimp

Is it better to roll your old employer’s Roth 403b plan to your Roth IRA or new job’s 401k? I’m leaning towards the IRA since it would be better? Not sure. What are your thoughts. submitted by /u/No-Caterpillar8241

How many Roth accounts can my wife and I have? I can’t find a clear enough answer to this but basically both my wife and I are employed. My job offers a 401k that I converted into a Roth but my wife’s job does not offer a 401k. My question is can I open a Roth IRA for each of us separately from my Roth 401K and max out all 3 accounts? Roth 401k- $22,500 My Roth IRA- $6,500 Spouse IRA- $6,500…

What is the benefit of doing a backdoor conversion of my traditional IRA into a roth IRA? I have an existing roth ira that I cannot contribute to anymore I became ineligible to contribute to a roth IRA this year so had to open a traditional ira. Is it worth doing a backdoor conversion to a roth ira? Of note, my company offers a 401k that i max out, as such I believe i have to make non-deductible contributions to my traditional ira? submitted by /u/essentialclt

Mega backdoor Roth vs Roth 401k Hi, my employer recently added the option to allocate after-tax dollars to an in-plan Roth conversion via a mega backdoor (up to a certain max). Along with this, I just received a raise and would like to route the majority of this to investments. For some context I already max out my 401k every year and don’t have any outstanding debt. I also ma…

Is a Roth IRA worth it? I am 19, and I make 50,000 annually. I want to start a retirement fund because I currently don’t have any retirement benefits at my job. I was thinking about starting at Roth IRA but I have no clue really on what to do and what the benefits are. I just want to be able to have a good amount of money by the time I retire. I need some recommendatio…

Mega Backdoor ROTH – Voya 401k After-Tax to Vanguard ROTH IRA. Am I doing something wrong? Hey folks – So… I’ve been doing a mega backdoor ROTH rollover multiple times – I was advised of this from a work colleague. I’ve also tried doing self-research as much as I can… However, I’m still getting some messages that scare me. ​ Basically, every 2 weeks with my paycheck – I will contribute to my 401k ROTH – and I’ll contribute to my…