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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
- Did I mess up doing traditional instead of Roth? : r . . . - Reddit
Maybe you messed up a little for the past, but since you seem to be at the top end of your career ladder earning potential I think you're probably better off continuing to contribute to your traditional TSP going forward, and make sure you're doing a Roth IRA My main reason is that money you put into traditional is deferring taxes at your highest marginal tax rate; money you take out from
- Where should I open a Roth IRA? : r FinancialPlanning - Reddit
Another vote for fidelity I have a rollover IRA, a Roth IRA, a brokerage account, and a money market I bank with chase, have my direct deposits drop in there, and then transfer direct to Fidelity however much I’m saving that pay period This keeps my “living money” away from my savings investments which helps me mentally to not overspend
- Roth vs Traditional? Roth is almost always a worse choice . . . - Reddit
100% Roth is almost never the right answer, because at the margin shifting $1 from Roth to Traditional almost always saves you taxes (the exception being if you have enough income in retirement from a non-Roth non-Traditional source to fill up the standard deduction)
- Roth IRA recharacterization : r fidelityinvestments - Reddit
Recharacterize your contributions: As you mentioned in your post, you could complete a recharacterization of your contributions (plus or minus any gains or losses) from your Roth IRA into a Traditional IRA
- Backdoor Roth IRA conversion deadline. : r fidelityinvestments - Reddit
The process behind a backdoor Roth conversion is to contribute non-deductible contributions to a pre-tax IRA and then convert the contributions to a Roth IRA It seems simple, but the process can get complicated when figuring out the taxes you may owe on the conversion
- Does anyone use Robinhood for their Roth IRA or IRA? : r . . . - Reddit
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
- Can someone explain 401k, Roth 401k and a Roth IRA to me like . . . - Reddit
In a roth or a tradition ira 401k its on taxed once (either when you earn it for roth or when you cash it out for traditional) Ex-$1000 Traditional IRA- no tax, leave it for a long time, grows to 5k, withdraw it and pay income tax on 5k, netting you like 3500-4k depending on tax bracket
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