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- Roth IRA Rules - Reddit
Confusing ROTH IRA contributions for living abroad Hi! Basically, I'm trying to see if I can contribute to my ROTH IRA, but I've been researching it and it seems quite tricky Usually, a US citizen can contribute up to $6,000 All my income is Foreign Earned income, so basically I can't add any in EXCEPT for $1,100 of freelance income I got
- Roth IRA vs. Traditional IRA? : r personalfinance - Reddit
Total value of Roth IRA and post-tax brokerage account: 97,540 If he puts the $6000 in a traditional IRA, puts the tax savings in a brokerage account, and keeps both there for 40 years: His 2021 income was $30,000 He deducts the standard deduction and his $6000 contribution His total taxable income is $11,450
- Is a Roth 401 (k) clearly better than a Traditional 401 (k) or . . . - Reddit
Trying to understand whether I should contribute to a Roth or Traditional 401k, and I'd like help clarifying my understanding of how each account is taxed I use contributions to refer to the amount of money from my paycheck I will put in the account, and earnings to refer to the money I will get from the growth of my investment With a Traditional 401k Contributions are not taxed Earnings are
- 401k contributions - Roth vs pre-tax : r investing - Reddit
Currently, I contribute 10% Roth and 4% pre-tax Considering the company's contributions are pre-tax, this comes out to a net 10% Roth and 10% pre-tax I don't plan on changing the amount I'm contributing (either up or down), but am looking for input on if my contributions should be allocated differently Thank you!
- absolute beginner - roth IRA advice? : r fidelityinvestments - Reddit
A Roth IRA is a tax-advantaged retirement account where you make after-tax contributions and can withdraw those contributions tax-free and penalty-free at any time and for any reason
- Fidelity Go VS Normal Roth IRA? : r fidelityinvestments - Reddit
I think using a normal Roth IRA is better out of the two, but both are good choices I started with a Go account and then switched over to having everything in a Rollover IRA and fidelity’s user interface still gives you guidance and advice about asset allocation, very user friendly, so in my opinion the purpose of making a Go account is
- Whats the point of Roth IRA? : r personalfinance - Reddit
Roth accounts are a hedge against future tax hikes and tax rate insecurity There’s a reason Roth accounts are always subject to elimination every few years, tax revenue from Roth users is far less than from traditional
- Should I put $6000 in Roth IRA at once or put $500 per month?
If you are instead doing Backdoor Roth (I e make non deductible contribution to traditional IRA and do Roth Conversion) for previous year, you need to file 8606 in the returns to update the basis of the non deductible contribution made to traditional IRA and since you have already filed, you should skip otherwise you will be double taxed
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