What to do with my Roth IRA So long story short, I make too much to contribute to the Roth IRA without penalty. Do I just let it sit (has 15k in it)? Can I move it to something else that would allow contributions Thoughts? Context: My individual income for 2022 was around 234k and will be even higher for 2023, plus my wife started working (Nurse). submitted by /u/jf…

Rollover to Roth 401(k) or Roth IRA This situation is really bugging me.. I had a Roth 403(b) with a previously employer that I didn’t touch when I left ~6 years ago. I would like to finally roll it over. I currently have a Roth 401(k) with Vanguard through my current company. Initial plan was to open a Roth IRA with Vanguard and roll the Roth 403(b) funds and employer contributio…

Roth IRA – opening my Roth IRA and looking at options. Does it matter who I open with? Are there benefits to opening with one over the other? There are various firms like Fidelity, Vanguard, TD Ameritrade etc. Is there any benefit for choosing one over the other? Edit: Also, I know there are ETFs offered by each institution, but if I wanted to add a certain ETF from a different source. Would I be charged a fee? submitted by /u/b_dm_tss

Roth IRA or Roth 401k (if available)? I got a new job that I negotiated from $47k to $48.5k. Basically a $10k raise from my current job. Still waiting for information on the retirement plan but I will leave my current job with my 401k contributions and 25% vested funds (total around $3k). So I wanted to know in advance, should I move towards a Roth 401k option if my job has it or j…

Am I doing this right? ROTH IRA I’m hoping I did this correctly. At the end of 2020 I opened a ROTH IRA I have contributed $300 a month since it opened. Any dividends are supposed to be reinvested. I invested on FIPFX Fidelity Freedom Index 2050 Fund. Since I opened the account my total gain is $574.41 or 4.67% for a total of $12,874 I know is not a lot invested so far but …

School me on Roth conversions I plan to retire this year. I will have very low income next year-some qualified dividends, a little interest, and a RMD from an inherited IRA. Plan to pay the bills from cash in the bank. I would like to take advantage of being in a lower tax bracket and do an in-plan conversion of my after-tax 401k contributions and related earnings to the Ro…

25yo I have a pension annuity and a trad 401k with option for Roth 401k. Should I do the Roth? Making 60k now but in 4 years I’ll be making 100k+ with potential to make upwards of 200 with overtime. I’m putting 10% right now into the traditional 401k no company match. The pension and annuity are paid by the company. Just got the option to switch to the Roth 401k and not sure what to do submitted by /u/StreetSpinach7871

Where do you get a Roth IRA? I’ve been wanting to open a Roth IRA for a while but there are so many options and hard to figure out which ones are legit and which aren’t. Can I open one in the bank? Am I supposed to open one somewhere else? I’m so lost! TIA submitted by /u/mrmh2217

What to do next with my Roth IRA I know I have some research to do, but I’m starting here just to get a sense of the direction to go in… I’m (25F) currently in grad school getting my doctorate in clinical psych so I can become a psychologist and do therapy + psych evaluations. Being a student, I’m really not doing that great financially right now – I have a part time job as a …

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

Roth or Traditional? Hello everyone 24M currently max out 401K and Roth and put about 20K in HYSA and 10 on my individual brokerage. I’m currently all in on ROTH for both my 401K and Roth, should I be using a traditional 401K instead to use those extra tax dollars I’m saving to make me even more money in the market? submitted by /u/MatthewWillTorres …

How to do a DIY backdoor Roth? Hello! I’ve recently hit a point where I’m no longer eligible to to contribute directly to a Roth IRA. This was as exciting as it was disappointing, as I’ve really favored the Roth IRA especially during the periods where I had no access to a 401k. Exciting because yay, higher income. It was a long and bumpy journey to get to this point. I did a…

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…

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…

Backdoor Roth Question Hi All, ​ We are going to need to use a backdoor Roth in the next year or two and I’m trying to learn a little more about the strategy. I understand the general idea. Add all the funds to a standard IRA and then convert that account into a Roth IRA at 1 time before the standard IRA makes any money from the market. My confusion is do I need to o…

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…

Roth IRA contribution withrawal Question on roth contribution withrawal, maybe i just confused how it works So I contribitrd total 12k over 2 years in roth ira. Made one bad investment and had to sell that for $500 loss. Currently my account is at 12150. Can i still withraw 12k if i need to or i have to take into account loss and can withraw only 11.5k ? submitted by /u…

Funding wifes Roth IRA I have my own Roth IRA i am maxing out. I dont have a 401k available through work. I was looking at setting up a Roth IRA for my wife. She is not working and i file married jointly. Would i be able to contribute to her Roth IRA with my earnings. It looks as though i can, i just wanted to confirm from people with two tax advantaged accounts. I wa…