Age 28 (Turn 29 in November)
Gross Income - 110,050
Retirement (At the start of 2015) - $12,000 in Roth IRA
My current contribution for the year is aimed at:
- 9,000 in Roth 401k
- 9,000 in Traditional 401k
- 5,500 in Roth IRA
- 1:1 on First 4% of Salary Plus Discretionary Contribution Based on
Profit (Traditional 401k as a lump sum)
However, I received advice that I shouldn't have zero balance in a traditional IRA.
I know in the instance that if my MAGI exceeds a certain point, I can not contribute the maximum to the Roth IRA; a traditional IRA and subsequent backdoor is the way to go. But I am currently at a point where my income allows me to put the full $5500 in my Roth.
Do I ever consider the thought to splitting my IRA contributions?