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- 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
- 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
- 401K. . . . Pre-Tax, After Tax, and or Roth??? : r personalfinance - Reddit
Roth is almost never the correct answer, outside of some outlier situations Essentially you need to look at effective tax rates vs top marginal Roth contributions (and thus withdrawals) are taxed at your top marginal tax rate (so 24% for your income) because all post-tax money is fungible
- I have a stock in Roth IRA that I want to sell. If it’s a . . . - Reddit
The IRS mandates that Roth IRA distributions be taken in this order: First, from regular contributions, not subject to tax or penalties Second, from conversion contributions, on a first-in, first-out (FIFO) basis Last, from earnings, generally taxable as ordinary income
- What is your strategy for Roth IRA? : r investing - Reddit
If that's in my Roth or similar tax advantaged account, I still can't access it until 65 without incurring a tax penalty Set up a foundation in your retirement accounts, and use the rest in accounts you can actually access if things go well
- Roth 401 (k): Pretax vs Roth : r Bogleheads - Reddit
Roth 401 (k): Pretax vs Roth I (24) have a 401 (k) with my employer Currently, I have over 17k I’m getting my employer's full match (4%) My contributions are 5% Pretax and 9% Roth They’re relatively high because my expenses are pretty low, and I opened my account later than I wanted Are the percentages looking good for both categories?
- Best software to illustrate Roth conversion scenarios? : r CFP - Reddit
What’s your favorite software to illustrate roth conversions? Currently use eMoney, but have not spent a lot of time with it from the standpoint of illustrating roth conversions
- 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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