To be used for questions related to Retirement Tax saving scheme Roth IRA as applicable in the United States
3
votes
2answers
65 views
How many IRAs can I open/add-to/purchase in a given year for my family?
I want to plan for my children's futures - and while I believe I understand from articles at Fool.com, Smartmoney, and Forbes, is that I cannot purchase an IRA, as such, for them: it needs to be done ...
0
votes
1answer
36 views
Conflicting information about late recharacterizing of excess contributions
Say someone contributed more than they were allowed to for a Roth IRA in Year 1 (therefore, there was an excess contribution). Can they still re-characterize that contribution to a Traditional IRA ...
3
votes
1answer
75 views
Expected total principal + gains from a vanguard life cycle account upon retirement after 33 years?
If one maxes out his Roth IRA starting from age 26, investing only into a vanguard target 2045 (lifecycle) fund, what amount can he expect to withdraw at retirement at age 59?
I did a quick check ...
3
votes
1answer
77 views
When is a SEP IRA appropriate, can a Roth IRA suffice for self-employed individuals?
I am a self-employed individual working in the software industry; my current salary is commensurate to the market value of a software developer with 5 years of experience. I have not yet opened up a ...
3
votes
1answer
60 views
Roth or Traditional IRA if getting a dramatic increase in income this year?
So I just learned that it's not too late to fund an IRA for 2012. With a week left and never having done this before, I now get to decide which type I want to open.
Based on my (really vague) ...
3
votes
1answer
47 views
Can I rollover some of my Roth 401(k) into my Roth IRA even if I'm still employed?
My 401(k) plan, to which I make after-tax contributions, has excellent choices for index funds. I have a plan to get Admiral shares of Vanguard Total US Stock Market (ER of 0.06%), then use the bond ...
2
votes
1answer
90 views
Can you replace Roth IRA contributions that you withdrew? [duplicate]
If I withdraw my Roth IRA contributions from previous years, is it possible to ever replace that money in the Roth IRA?
5
votes
1answer
54 views
Traditional IRA to Roth IRA 2012
5-11-2011 my Bank converted from Wachovia to Wells Fargo. A Roth IRA that I had for many years was inadvertently changed to a Traditional IRA during the conversion. I did not catch the mistake ...
5
votes
2answers
84 views
What are the benefits to listing a contribution to my Roth IRA as a 2012 contribution instead of a 2013 contribution?
My sister examined her Roth IRA today and noticed that she only contributed $4500 in 2012, out of the maximum $5000. When making a deposit, Vanguard gives her the option of depositing money "for 2012" ...
3
votes
2answers
118 views
How do I estimate the future level of my Roth IRA?
Short version: If I know a) how much is in my Roth IRA currently, b) that I plan to maximize my annual contributions, c) the average growth rate is 8%, and d) I'm 22 and plan to invest in my IRA until ...
7
votes
2answers
197 views
Can I open a Roth IRA with more than one company at a time?
This may be a really silly question, but I was looking at my TD Ameritrade account online, and it says front and center that my maximum 2013 contribution is $5500.
I'm assuming the limit is imposed ...
8
votes
1answer
379 views
Should I use a Roth 401K rather than 529 to save for children's college?
First some background:
I'm a new parent and I live in Nevada, a state with no state income tax. I'm 26 and my wife is 29. She's finishing her PhD (to hopefully become a professor) and I'm an ...
3
votes
3answers
152 views
How should we prioritize retirement savings, paying down debt, and saving for a house?
My wife and I are newlyweds. We currently have 6 months' emergency fund (3 months are currently in a CD, and 3 months in a high-yield savings account.) We are contributing to get the full match in her ...
6
votes
2answers
520 views
Can Roth IRA first time home buyer withdrawals be made up?
If we were to withdraw the annual contributions from our Roth IRAs for the closing costs on a house (we have a 20% down payment, but only recently learned that that's almost $10,000 less than what you ...
4
votes
2answers
146 views
What are the disadvantages of a backdoor versus conventional Roth IRA contribution?
My income is close to the Roth IRA limit. I like to do my IRA contributions early in the year, before I know exactly how much I will make due to bonuses and such. So I am thinking about doing a ...
2
votes
1answer
84 views
Can I convert a traditional IRA to ROTH pre April 2013 and have it matter for 2012
I believe there is opportunity to contribute to an IRA up to April 2013 and have it count on tax year 2012. It wasn't clear from this question, so I'd like to ask specifically if it is possible to ...
4
votes
1answer
236 views
Investing in REITs - VGSIX vs VNQ
I recently began investing and planning for retirement. I opened up a Roth IRA through Vanguard and bought about $2,000 of Vanguard Target Retirement 2045 Fund (VTIVX). I'd like to invest in real ...
6
votes
3answers
1k views
Could a 401k or IRA contribution switch my current taxable income to a lower tax bracket? is this the same for traditional and Roth 401k?
In the case that my annual income is right in the limit between one tax bracket and the next tax bracket. Can contributing to a 401k or IRA reduce your present income declaration in such a way that ...
1
vote
1answer
220 views
Need help with completing a backdoor Roth IRA conversion
I am in need of some advice regarding IRA's, IRS income limits, IRA conversions, etc. Here's the points pertinent to my situation:
My wife and I got married this year and will be filing 2012 tax ...
2
votes
2answers
60 views
Tax treatment for non-matched 401k vs. a Roth?
I've heard that you should invest for retirement in the following order:
401k with employee match
Roth IRA, until you hit the max
Rest of your 401k
I was curious however. The money for a 401k ...
7
votes
5answers
203 views
Advice on low-risk long-term strategy for extra cash?
Basics
no debt; no dependents; early thirties
401K is maxed (5% company match)
ESPP is maxed out 10%
Roth IRA is maxed out
salary is about 115K
100K cash in a checking account
Question
I am ...
4
votes
1answer
41 views
Can a loss in one Roth IRA make up for a gain in another when trying to withdraw early penalty-free?
I have a Roth IRA account with $9,500 current value ($500 less than I invested in it). My wife has a Roth IRA account with $5,500 current value ($500 more than she invested in it). We pay our taxes ...
2
votes
1answer
326 views
Roth IRA for down payment on first home (5+ years out)
I am interested in the idea of using an S&P Index Fund (probably Vanguard's) within a Roth IRA as a savings vehicle for a downpayment on a house.
I have an emergency fund in an FDIC insured ...
3
votes
1answer
1k views
Do 401K contributions reduce MAGI as it pertains to Roth IRA income limits?
My wife and I are looking to make around 200K this year, putting us past the Roth IRA income limit. It may be possible for us to get under that limit if we both ratchet up our 401K contributions from ...
0
votes
1answer
185 views
Does the cost basis increase by reinvestment of investment income in Roth IRA?
In regular brokerage account, the cost basis increases by reinvestment of investment income.
I guess it is the same case in Roth IRA? I am not sure, because I don't know if there is some rule that ...
-2
votes
2answers
154 views
Emptying a Roth IRA account
If I withdraw money from my single Roth IRA account to make it
empty, will the account be closed?
Is there any expense to open a new Roth IRA account?
If my purpose of emptying my Roth IRA account is ...
3
votes
2answers
799 views
Can capital loss in traditional IRA and Roth IRA be used to offset taxable income?
For traditional IRA and Roth IRA, can capital loss be used to offset taxable income for tax purpose?
If not, when withdrawing from traditional IRA and Roth IRA, can the capital loss now be used to ...
6
votes
3answers
361 views
Saving for niece's education: Roth vs 529 vs something else?
I am considering starting an account to help fund my girlfriend's niece's education. I am looking at contributing a small amount each month. I would also like to maintain control of the money and be ...
4
votes
2answers
679 views
Variable Annuity inside a Roth IRA? What is this and how can I switch it to something else?
Right out of college I started a Roth IRA through a financial advisor that I knew in school. I had it for a few years, then in 2004 he called me up and wanted to switch it to a "Flexible Premium ...
2
votes
1answer
224 views
For an independent contractor, which is better: a traditional IRA or a Roth IRA?
As an independent contractor, I pay more taxes than someone who is on salary with a company. Given that, would I benefit more from a traditional IRA that will give me more tax savings now, as oppose ...
5
votes
1answer
147 views
Do Roth 401(k) and Roth IRA plans share the same annual contribution limit?
I've contributed $2000 to my Roth 401(k) plan through my employer, and $4000 to my Roth IRA plan that is totally separate from my employer. My accountant says that the limit on Roth IRA contributions ...
5
votes
3answers
3k views
If I have a Simple IRA can I also contribute to a Traditional IRA and/or Roth IRA?
I have a Traditional IRA and a Roth IRA. This year my company introduced a Simple IRA.
As long the contributions to the Traditional+Roth are below the yearly limit, can I contribute to all three ...
2
votes
1answer
53 views
Recharacterizing a Roth IRA contribution made in 2010?
In 2010 I rollovered money from a 401(k) to a Roth IRA. At the time, I chose to defer the taxable income to 2011 and 2012. However, I am now just learning about recharacterization. Is it too late for ...
5
votes
2answers
126 views
What's the best option if you can't deduct contributions to a traditional IRA?
Can't put in Roth and it seems wasteful to put it in a traditional after taxes if we can't deduct since it will be taxed again when we take it out. I've heard you can convert the traditional to a ...
3
votes
1answer
149 views
What are some good next steps for the HENRY?
HENRY (High Earning Not Rich Yet)
I'm 37, single, and only in the last two years have I really gotten serious about saving.
Current 401k balance is $28,000
I'll probably make about $125,000 Gross ...
3
votes
1answer
147 views
What are the tax results of a 401k to Roth IRA rollover?
In 2011 I rolled over my (Traditional) 401(k) into a Roth IRA.
I realize that I will need to pay taxes on the rollover, but I had a few questions.
Do I pay taxes on the full amount, or only the ...
5
votes
2answers
803 views
When leaving job, is there a time limit to rollover a 401k into a Roth IRA?
My wife is leaving her job in the next month and going to a new one. She currently has a 401k that we would like to rollover into a Roth IRA ASAP.
However we might be moving in a few months and ...
5
votes
5answers
640 views
Roth IRA = Emergency Fund. Any Safe Investments?
I've been building my emergency fund through automatic deposits into a Roth IRA at TDAmeritrade. This has been working well, since the money is out of sight, out of mind, and I can easily withdraw it ...
5
votes
2answers
386 views
Are 401(k) contribution limits for employee & employer separate? What about hitting the limit?
I am glad to see this forum. I have been reading a lot and have some questions about me specifically.
I am 29 years old and have a 401(k) already with my company. I just started contributing 10% to ...
1
vote
3answers
98 views
Restrictions or impact on Roth IRA when reaching MAGI threshold?
If I started a Roth IRA in 2011, but start contributing to a Roth 401k and reach the MAGI threshold for additional contributions in 2012 to my Roth IRA, will I eventually be able to move my 401k Roth ...
3
votes
2answers
362 views
Roth IRA - Vanguard or Fidelity? If a college student had to pick one?
These are the only two options I will consider at this point, since I was in a very indecisive state, but have managed to narrow it down to these two. It seems that mostly everybody is recommending ...
2
votes
3answers
163 views
Is investing in an ETF generally your best option after establishing a Roth IRA?
It seems that many people recommend investing in an ETF when you just start out with a Roth IRA at a very early age. I was wondering why this is so, and if there are some better or complimentary ...
6
votes
3answers
471 views
How feasible would it be to retire just maxing out a Roth IRA?
How feasible would it be to retire on just maxed out Roth IRA contributions each year?
Obviously this depends very much on how old you are when you start, and your living expenses when you retire. ...
4
votes
3answers
224 views
Which Roth IRA is the best for a 21 year old who has about $1500?
I am looking towards depositing about $700~$1000 of it in something that will hopefully bring in some good interest returns, and at least something that does a lot better than my current "savings ...
3
votes
2answers
141 views
Diversify my retirement investments with a Roth IRA
I'm currently putting 8% of my income into my 401k (through Vanguard) but the funds that are available to us pretty much suck. We're limited to about 20 funds and I've got myself covered in terms of ...
7
votes
3answers
765 views
Best to roll over a 401k into a Roth IRA or traditional IRA?
I am rolling a 401k from a former employer to an IRA or Roth. I am trying to figure out the tax consequences of doing so. My understanding is, is that my contributions to the 401k were not taxed going ...
2
votes
2answers
245 views
How do I recharacterize Traditional IRA contribution to Roth that was converted to Roth?
What forms do I fill out for my broker to recharacterize my 2010 Traditional IRA contribution that was in my traditional IRA that I completely converted to a Roth IRA in 2010 right after the above ...
3
votes
1answer
157 views
Is it possible to transfer stock I already own into my Roth IRA without having to sell the stock?
My cash is already in the stock. Can I just transfer the stock to my Roth IRA?
4
votes
2answers
95 views
Can I convert my traditional IRA to a Roth IRA in 2011?
Going forward, I'm putting all my retirement savings that goes above my employer 401k match into a Roth IRA.
I have a traditional IRA that I opened many years ago and has sat untouched for quite a ...
1
vote
0answers
70 views
Switching Jobs - What should I do with 401k? Roll to IRA? Transfer to new 401k? Leave it? [duplicate]
Possible Duplicate:
Started new job. Rollover previous employer 401k to new 401k, IRA or Roth IRA?
I'm leaving my current employer next week and have about $10k in a 401k plan. What is best ...
