Questions tagged [retirement]
This tag should be used for any questions related to retirement or post-retirement, such as planning or saving for retirement, or asking about benefits or issues after retirement.
683
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If you are not eligible for social security by 70, can you continue to work to become eligible after 70?
If you start working in the US late in life and don't have 40 credits by the time you turn 70, can you still become eligible for social security if you continue working past 70?
Various sources say ...
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3
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147
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How would you balance this scenario?
I have two jobs, one is in the private sector (access to 401k) and one is in the public sector academia (access to 401b/453b) and my wife has a private sector job (access to 401k) and both of us of ...
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2
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75
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Can an IRA contribution with after tax money be deductible?
I am trying to make an amendment for 2020 tax year. In December 2020 I contributed $6000 for Roth Ira and $6000 for traditional Ira (I did not know any better). I used after tax money in both ...
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1
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1
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134
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After 4 yrs, new money shows up in closed 401K account
I separated from a company on 12/30/2015. Feb 2016 I paid $60 distribution fee to rollover the entire 401K balance to an IRA. Fast forward 4 yrs, in March of 2020 I get an email "your statement ...
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2
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310
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Why not stuff all my money into a new high interest savings?
I have a well-balanced portfolio. I am leaving my job for a year. I see here that I can potentially receive 5% on my money. Is there a reason not to take everything out of stocks and bonds and put ...
-1
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1
answer
143
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Should I sell off my Traditional IRA holdings in the first year I stop working after 60?
Just to experiment with Roth IRA and Traditional IRA, I do have both. I have some holdings in Traditional IRA, but they are more like US$1000 and a few hundred dollars in some other firms.
So let's ...
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0
votes
1
answer
110
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For the US, how to calculate the Social Security benefits if I stop working at 60 or 62 but claim benefits at 70?
As related to this question and the calculator at ssa.gov, they tend to say: stop working at 62 and start claiming benefits at 62, or stop working at 70 and start claiming benefits at 70.
However, ...
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6
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2
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Can I buy my own C-Corp through a Roth SDIRA?
Say I have a C-Corp that is holding my investments. I want to eventually cash out of my positions in the C-Corp and put the money into my Roth SDIRA LLC. Here is the plan my buddy and I have come up ...
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2
votes
1
answer
75
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Vanguard: Targeted Retirement Mutual Funds vs Targeted Retirement Trusts
I have two different 401(k) accounts and each hold a Vanguard "Targeted Retirement 2040" instrument. I had assumed they were the same, but I just realized that the two accounts actually hold ...
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4
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1
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183
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In the US, is post tax 401k different from Roth 401k?
I had a talk with the brokerage firm retirement planning team, and they told me that if I have money in 401k, it can be pre tax, post tax, or Roth 401k, and even post tax and Roth 401k are different.
...
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0
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0
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46
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Is using IRA, Roth IRA, and 401k money between the age of 62 to 70 in general a better choice than claiming social security? [duplicate]
My thinking this: if I don't use IRA, Roth IRA, or 401k money between the age of 62 and 70, but just let it grow, then let's say, if it was $500k at age 62, then if I am lucky to get 10% return per ...
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1
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2
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138
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Does the US IRS tax board have a provision that any mistake or error such as a few cents or a couple of dollars will not be followed?
When I transfer money from my account to another account (such as from Traditional IRA to Roth IRA), the rule is that if the money has appreciated, then I need to pay tax on it.
But the money is in a ...
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0
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1
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51
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How are the income conversion factors for 3%, 5%, and 7% interest rate calculated for retirement income in the U.S.?
I'm reading the U.S. Department of Labor's PDF Taking the Mystery Out of Retirement Planning. Page 17, Worksheet D, asks the reader to take their total estimated savings in different retirement ...
- 163
1
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0
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51
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Pension Rollover Problem
A friend of mine had a deadline of 2/17 to make a decision about the distribution of her pension that needed to be rolled over. She missed the deadline. Fidelity automatically chose one for her and ...
- 75.7k
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3
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427
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Is it correct to think: when the government prints money and I buy 3 houses, then when the price of house doubles, I get 1.5 houses for free?
It actually happened in a similar fashion in the US: in 2015, the price of a townhouse nearby was $850k.
Then about 1 year later, the price of it went to $1.5 million.
For simplicity's sake, let's say ...
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2
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I earn $1 more and now my Roth IRA is "illegal" or "invalid" in the US? [duplicate]
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: ...
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2
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3
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128
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What are the reasons to avoid rolling over IRA into 401k plans?
Are there reasons for and against doing this?
For
I can only think of having more options for what securities to buy in IRAs since 401k options are limited.
Against
The only reason to do the IRA ...
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3
votes
1
answer
326
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Contribution limit differences between 401k and IRAs
Is there a reason why the contribution limits of these are drastically different with the 401k limits being about three times higher?
Moreover, why is it that the 401k limits go up over the years but ...
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6
votes
1
answer
304
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RMD, how is it withdrawn?
How is RMD (Required Minimum Distribution) withdrawn, say the 4% RMD is withdrawn from each account separately (IRA, 403B, SEP IRA, Simple IRA) or is it computed on the entire retirement accounts and ...
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2
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162
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Pay 50% on benefits from US Social Security?
I am not sure if it is like what it sounds, which is scary:
https://www.investopedia.com/ask/answers/013015/how-can-i-avoid-paying-taxes-my-social-security-income.asp
From $25,000 to $34,000: You may ...
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2
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1
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160
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In the US, if I am afraid my income may be over $153,000 for Roth IRA, is it true I can do the IRA backdoor?
I saw on the Robinhood website that they do IRA and Roth IRA now, and they have a 1% matching, but it says for the Roth IRA qualification for year 2023:
Anyone with a MAGI (modified adjusted gross ...
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0
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75
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How can I make informed decisions on Keogh investments?
I am in my late twenties making enough to live quite comfortably. My company offers Keogh retirement plans, and mine has been active for about a year and a half. Currently, about a third of it is in ...
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2
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211
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Can F1 students in the US earn Social Security work credits?
Assume a typical F1 student in the US. No side gig, focusing on their PhD work, getting a stipend from their school and possibly doing summer internships using CPT. Can they earn Social Security work ...
- 11.2k
6
votes
3
answers
430
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Financial efficiency - purchasing a car with cash from retirement withdrawal vs. by financing
When someone in their retirement is purchasing a car, is it financially more efficient for them to take a lump sum of cash out of a deferred-tax retirement account (and pay income tax on it), or is it ...
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2
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7k
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Saving for retirement... starting at 68 years old
It may sound like a joke, but it is not. I imagine I am not the only one in this situation. I guess.
Here is what I have going on. I am a "one man show" self employed carpenter. It took many ...
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0
answers
47
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What is a structured note and when does it make sense as part of my financial plan?
I have been talking to retirement planners recently and more than one has suggested that structured notes as part of my strategy for investing after retirement. I thought I was pretty financially ...
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2
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1
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58
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401k Matching Rules Regarding Losses when Match is Revoked
My employer matches my 401k but it is on a long vesting schedule and I will almost certainly leave before it finishes vesting. I know I will have to give it back but was wondering how to gains/losses ...
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0
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1
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74
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Actively Managed Funds or Index Funds [closed]
I am 40 and currently I am investing in the following funds.
T Rowe Price (Actively Managed Funds) (Traditional IRA contribution POST TAX):
Communications & Technology Fund - I Class
TTMIX
New ...
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3
votes
3
answers
246
views
When the SSA decides how much you make for the year to determine whether you pay taxes on SS, does it count IRA contributions?
I'm over 62.5 years old and semi-retired. I have a part-time gig that pays about $23K per year. I'd like to pull the trigger on Social Security, but I make too much. (I have another small gig that ...
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1
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199
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what is rule for 40 year retirement?
For 30 year retirement 4% rule is suggested to be followed. Suppose a prospective retiree wants to plan for 40years, what should be max withdrawal rate
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4
votes
1
answer
193
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Possible to open multiple IRA accounts from the same institution?
Let's say I already have a traditional IRA account with a brokerage, and I've used it for tax deduction last year. Now, I want to use the backdoor Roth conversion method. From what I have ready, I ...
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2
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1
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239
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why 4% rule in retirement if S&P return is about 7%
Lots of planners and web sites suggest rule of 4% for 30 year retirement.
Also per many sites US average return in stock market is about 6.5 to 7 %.
So is the 6.5-4 = 2.5% is safety margin ? Any ...
- 1,014
3
votes
1
answer
44
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Taxes on certain retirement income in Canada for a US citizen / resident of Canada
I receive US military retirement, and Veterans Administration Disability and Social Security. What is taxed in Canada? Is anything exempt such as the Veterans Disability?
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3
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218
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Estimating Social Security for one or two years of additional work
I was looking at Social Security web site and they have option to find out how much will be retirement benefits will I get in two scenarios: Below are two scenarios and numbers(slightly modified).
If ...
- 1,014
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0
answers
47
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ETF portfolio for indian retiree
I am a recent retiree and do not get a pension. I have all my savings in my bank account some of which I want to invest in an all ETF portfolio over a period of time using SIP. What are some good ...
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3
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92
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Changing Investing Strategy Near Retirement
Currently, I am 40 years old and I am investing in Traditional IRA (T Row Price actively managed funds) and also Index Funds (Vanguard). At what age, I should move to money conservation phase?
...
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1
vote
2
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212
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Best practices for protecting retirement savings?
Let's say my nest egg is in ETFs in a taxable account and an IRA with the same brokerage.
SIPC insurance may cover me "if the firm fails financially", and only up to $500,000. That is per ...
2
votes
0
answers
65
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The Social Security Special Earnings Limit Rule---How Long is the Cap on Hours Worked in One's Own Business Truly in Effect?
I am under the impression that retirees who are collecting Social Security benefits and start a business are capped in the number of hours they can work between 15 and 45 hours per month if they have ...
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2
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1
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208
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How to establish your (yearly) savings rate in GnuCash?
Title says it all... pretty much.
Maybe this exercise is really simple and this question a bit silly: I'd guess it's simply the sum of all expenses (i.e. expense accounts) over the sum of all income, ...
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3
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608
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When is the earliest I can withdraw contributions from a Roth IRA?
I'm considering putting a few thousand dollars or so into a Roth IRA. The tax due date is in a few days and I want to finish it now because I think I have to report Roth IRA contributions on taxes.
...
10
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5
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Hypothetical case of two brothers, one who invests early and one who starts later
I've seen a hypothetical case of two brothers, one of whom invested until 25 and stopped. The other invested from 25 until 65. The brother who invested earlier winds up with more money. Does anyone ...
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145
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How do I calculate I-Bond growth?
I'm looking into purchasing $10,000 of Series I Savings Bonds every year. I'm trying to understand what the formula is for their growth.
I looked at bond calculators, but to be honest, I'm not very ...
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2
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How does the last few years of wages affect Social Security amount in the US?
I have heard that
our Social Security payment is largely dependent on our wages for the last few years we work
but I have also heard that if you earn more money, it is not going to make your Social ...
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2
answers
174
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Is it some sort of gambling when we take out our Social Security in the US?
I found that it could be like this:
If we take out our Social Security at the age of:
62 $2000 / month
70 $4000 / month
and I calculated that it is assuming we live to age 78, then the ...
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3
votes
2
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121
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How much monthly income can I get, as a function of age and initial investment?
Suppose my age is X, and I have Y dollars in cash. I want to give them to an insurance company, or another financial institute, in exchange for a monthly income (pension) of Z for the rest of my life. ...
21
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5
answers
4k
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When can you skip bonds for retirement?
Conventional wisdom holds that as one approaches retirement, one should transition from holding mostly risky investments (stocks and mutual funds) towards holding more conservative investments (bonds)....
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1
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102
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Is it beneficial to take U.S. Social Security money later? [duplicate]
I noticed if I take money out starting age 60, at $N, or if at age 70, at $M. $M is close to double the amount of $N.
Is it more advantageous if I take money out later? What life expectancy age do ...
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2
votes
2
answers
136
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How much is tax exemption if I retire in a foreign country like Taiwan?
I heard that some time ago, there was like a US$70,000 tax exemption if I live in Hong Kong, and that first $70k income is not subject to US taxes.
However, let's say if I actually retire and live in ...
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1
vote
2
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251
views
When transfering IRA ask origin or destination institution?
I have some money in an IRA account with NEW YORK LIFE. I would like to transfer this money into a Fedelity brokerage account since I can buy individual stocks there. Who do I contact to arrange the ...
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1
vote
2
answers
194
views
How to choose between Roth IRA and Traditional IRA
I have been contributing to Roth IRA for several years now. At this point my income have jumped up so I cannot contribute to Roth IRA anymore, unless I use the backdoor. Currently, my tax rate is 24%. ...
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