#roth-ira tag - Briefly

1 week ago

3 Changes the Government Should Immediately Make to the Roth IRA Rules

Roth accounts offer tax-free retirement income but income limits and contribution rules increasingly exclude higher earners, requiring policy adjustments and planning.

2 weeks ago

I Make $40,000 a Year - What Should I Do With My $800,000 Inherited Roth IRA?

I can't offer any suggestions on what to do with the money if I don't know more information about someone's finances. The advice for managing the $800k Roth IRA and $400k money market account will be different if someone spends $5,000 per month or $20,000 per month. The Redditor is earning $40,000 per year, which comes to roughly $3,333 per month before taxes.

Retirement

3 weeks ago

Why I'm Confused About Backdoor Roth IRAs and Traditional IRA Benefits

One of the most important decisions anyone has to make in achieving their financial goals is how to invest their money. This might sound like something you can decide in just a few minutes, but let this be a reminder that any decision now can have long-standing consequences, so you have to decide carefully what your first or next move is going to be.

Business

fromBusiness Insider

1 month ago

I'm a millionaire dad who started investing for my 3 kids when they were born. Here's my advice for other parents.

"I believe the Roth IRA serves as an exercise to teach the kids to set aside money and see how fast it will grow due to compounding interest."

Parenting

#retirement-planning

1 month ago

Retirement

I've been doing the Mega Backdoor Roth religiously for 5 years. Should I consider prioritizing less in these accounts to increase accessibility of funds for early retirement?

2 months ago

Retirement

How I Plan to Boost My Financial Future with a Roth IRA Contribution

Retirement

I am 49 with $660K in a 401(k). Should I max out the 24% bracket with annual Roth conversions?

Retirement

Should I Start a Roth IRA from $0 or Keep Contributing to My 401k at Age 42?

I am 62 years old with $700k in a 401(k). Would converting $70k annually help avoid RMDs?

A 62-year-old can avoid RMDs by transferring money from a traditional 401(k) to a Roth IRA.

I would like to roll over $800K to a Roth IRA and keep the tax bill low. How should I do this?

Timing withdrawals effectively can lead to substantial savings.

Direct rollovers from Roth 401(k) to Roth IRA prevent unnecessary taxes.

Down years might be strategic times for account withdrawals.

1 month ago

Retirement

I've been doing the Mega Backdoor Roth religiously for 5 years. Should I consider prioritizing less in these accounts to increase accessibility of funds for early retirement?

2 months ago

Retirement

How I Plan to Boost My Financial Future with a Roth IRA Contribution

Retirement

I am 49 with $660K in a 401(k). Should I max out the 24% bracket with annual Roth conversions?

Retirement

Should I Start a Roth IRA from $0 or Keep Contributing to My 401k at Age 42?

Retirement

I am 62 years old with $700k in a 401(k). Would converting $70k annually help avoid RMDs?

Retirement

I would like to roll over $800K to a Roth IRA and keep the tax bill low. How should I do this?

more#retirement-planning

I am 63, still earning, and eyeing Roth IRA funds for renovations. Is that a mistake?

Age 59 1/2 marks penalty-free access to Roth IRA, needing 5-year account opening.

Evaluate financial options before using Roth IRA funds for home renovations.

401(k) Rollover vs. Roth IRA: Which Is the Smarter Move?

The Roth IRA offers tax-free growth but isn't a universal solution; alternatives may be better based on individual financial situations.

4 months ago

Can I Withdraw My Entire Roth 401k Contribution After 5 Years?

Understanding the five-year withdrawal rule for 401(k) accounts is critical but often misunderstood.

5 months ago

I Discovered Backdoor Roth IRAs Too Late: Can I Still Make Them Work Before Retirement?

It's never too late for high-income earners to consider a backdoor Roth IRA for tax-advantaged growth.