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Roth IRA vs. Traditional IRA? : r personalfinance - Reddit Total value of both the Roth IRA the post-tax brokerage accounts: $49,615 If he puts the $6000 in a traditional IRA, puts the tax savings in a brokerage account, and keeps them both there for 30 years: His 2021 income was $30,000 He deducts the standard deduction and his $6000 contribution
Over the Income Limit? A Guide for Roth IRA Mistakes and the . . . - Reddit This effectively pretends like a pre-tax contribution was a Roth in the first place, or that a Roth contribution was a Trad contribution in the first place This can be performed up to the filing deadline for the tax year (typically April 15 of the following calendar year) Pro rata rule: Pro rata simply means proportional
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 You can withdraw earnings tax-free and penalty-free once the 5-year aging requirement is satisfied and you are 59½ or older or meet one of several exemptions
Is anyone aware of the Roth IRA 2025 limit - Reddit While we don't have anything to share about limits for 2025, I can confirm that Fidelity will update clients on changes to the IRA contribution limit, just as done for the changes in 2024 For those unaware, in 2024, you are now able to contribute to an IRA of up to $7,000 for individuals under 50 and $8,000 for those aged 50 or older
Roth IRA or High Yield Savings Account? : r personalfinance - Reddit Roth money is generally for retirement You should be looking at performance over at least 5 years if not longer If you need money in 3 years you shouldn't be investing it A HYSA is not investing, it's saving There's nothing wrong with one or the other, they are just different strategies Reply
Tsp traditional, Roth or both??? : r fednews - Reddit Let's look at a person getting paid $1000, who pays 20% tax and is going to put that into either a traditional or Roth for 30 years at 7% annual interest With a Roth you start with $1000, pay 20% tax ($200) then your $800 grows into $6,089 80 that you get to walk away with, tax free Meanwhile, with a traditional IRA you start with $1000, don
Help Me Understand the Roth Conversion Ladder - Reddit The ladder is simply a series of pairs of Roth conversions and Roth withdrawals, separated by five tax years It literally takes like 3-4 minutes a year to maintain one if you house both accounts at a place like Fidelity where conversions and transfers can be done online in seconds I've been running ours for a decade now and it's brutally simple
Whats the point of Roth IRA? : r personalfinance - Reddit Exactly Roth works like this You are taxed on your income today, and you invest those monies into an account When your account grows, when you retire you both the money you put in, and all the growth is 100% tax free This is important if you believe today’s tax rate is lower than the future tax rate
anyone else use robinhood roth ira? : r RobinHood - Reddit For 3, I would put any additional money in to either a traditional brokerage, or something else a little more liquid like maybe a CD Once you hit the annual contribution limit (which is the combination of ALL ROTH and traditional contributions, regardless of which service holds the account), you pay a penalty on such contributions Per
Does anyone use Robinhood for their Roth IRA or IRA? Hey guys I know Robinhood has a 1% match for both Roth and regular Ira accounts Right now I use vanguard for my Roth IRA I was wondering if you guys think it worth the move to get the 1% match They also have Robinhood gold were you pay $5 a month and can get 3% match I mean the 3% dollar amount would definitely be more than the $5 bucks a