Because my 401k is limited to a list of about 30 items, I can't buy what I want, such as QQQ or Apple or Google stocks.
So the only way for me is to invest in Roth IRA.
However, there is this rule: Modified Adjusted Gross Income (MAGI) must be under $144,000 for tax year 2022 and $153,000 for tax year 2023
So let's say for the year 2023, if I earn $152,950, then I can invest in Roth IRA, but if I "accidentally" earn $51 more, which is $1 over $153,000, then my whole Roth IRA is invalid and is subject to penalties?
It really does not make sense if it is like this, but is it like this? If so, what is a way I can get around it? (such as put cash into Traditional IRA and wait 7 days and "convert" it to Roth IRA?).