Comments on: Roth IRA or Traditional IRA: What Do You Do? http://www.moneyunder30.com/roth-ira-or-traditional-ira-what-do-you-do Personal Finance for the Young and Ambitious Fri, 06 Nov 2009 23:10:14 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: April http://www.moneyunder30.com/roth-ira-or-traditional-ira-what-do-you-do/comment-page-1#comment-1842 April Tue, 02 Dec 2008 20:28:35 +0000 http://www.moneyunder30.com/?p=811#comment-1842 I'm contributing 9% to my company's 401k, with 6% matching of $.50 to each $1. I rolled over my old employee's 401k into an IRA, and then from there I'll take $1000 per year from my IRA into my ROTH IRA. I'm just not sure how much taxes i can afford if I transfer more than $1000/year. I'm in a high income tax bracket where they take 40% outta my paycheck!!! I own a condo and a house, but things are tight. I'm hoping I'm covering my ass-ets! 28y/o female. no kids. single. $80k/yr before taxes. I’m contributing 9% to my company’s 401k, with 6% matching of $.50 to each $1. I rolled over my old employee’s 401k into an IRA, and then from there I’ll take $1000 per year from my IRA into my ROTH IRA. I’m just not sure how much taxes i can afford if I transfer more than $1000/year. I’m in a high income tax bracket where they take 40% outta my paycheck!!! I own a condo and a house, but things are tight. I’m hoping I’m covering my ass-ets! 28y/o female. no kids. single. $80k/yr before taxes.

]]> By: Ryan http://www.moneyunder30.com/roth-ira-or-traditional-ira-what-do-you-do/comment-page-1#comment-1840 Ryan Sat, 15 Nov 2008 09:09:11 +0000 http://www.moneyunder30.com/?p=811#comment-1840 Roth IRA. For one, I don't make enough to require a tax break right now. For two, as our nations deficit expands, the need to collect more taxes from citizens is going to have to make its way to the top of the solution pile someday. When that day comes, I'll be drawing Roth IRA contributions tax free. Roth IRA. For one, I don’t make enough to require a tax break right now. For two, as our nations deficit expands, the need to collect more taxes from citizens is going to have to make its way to the top of the solution pile someday. When that day comes, I’ll be drawing Roth IRA contributions tax free.

]]> By: I know it all http://www.moneyunder30.com/roth-ira-or-traditional-ira-what-do-you-do/comment-page-1#comment-1841 I know it all Fri, 14 Nov 2008 01:31:22 +0000 http://www.moneyunder30.com/?p=811#comment-1841 The biggest perk for a Roth IRA is the growth potential! This thing has unlimited growth, and if you are lucky to have that growth, you won't have to pay any taxes when you withdraw. It is also good for emergency fund as principal (contributions) that you put it is never taxed at any time when you take it out. The biggest perk for a Roth IRA is the growth potential! This thing has unlimited growth, and if you are lucky to have that growth, you won’t have to pay any taxes when you withdraw.

It is also good for emergency fund as principal (contributions) that you put it is never taxed at any time when you take it out.

]]> By: Live for Improvement http://www.moneyunder30.com/roth-ira-or-traditional-ira-what-do-you-do/comment-page-1#comment-1846 Live for Improvement Tue, 04 Nov 2008 16:28:15 +0000 http://www.moneyunder30.com/?p=811#comment-1846 Roth IRA, because Suze Orman says so. lol Roth IRA, because Suze Orman says so. lol

]]> By: DoneToZen http://www.moneyunder30.com/roth-ira-or-traditional-ira-what-do-you-do/comment-page-1#comment-1845 DoneToZen Mon, 03 Nov 2008 22:34:59 +0000 http://www.moneyunder30.com/?p=811#comment-1845 Roth IRA because it's important to diversify between tax-free and taxable retirement accounts. I already max out my (traditional) 401K account, so I already have a (bigger) source of taxable income in retirement. If my company offered Roth 401K, then I would contribute to a traditional IRA. Roth IRA because it’s important to diversify between tax-free and taxable retirement accounts. I already max out my (traditional) 401K account, so I already have a (bigger) source of taxable income in retirement. If my company offered Roth 401K, then I would contribute to a traditional IRA.

]]> By: Becca http://www.moneyunder30.com/roth-ira-or-traditional-ira-what-do-you-do/comment-page-1#comment-1844 Becca Mon, 03 Nov 2008 22:24:02 +0000 http://www.moneyunder30.com/?p=811#comment-1844 I'm going with the Roth. I'm 24, so I've got a long time to contribute, and thus my earnings will be a larger chunk of my retirement savings than will be my contributions. Getting taxed on just the contributions instead of the whole pot just makes sense. I’m going with the Roth. I’m 24, so I’ve got a long time to contribute, and thus my earnings will be a larger chunk of my retirement savings than will be my contributions. Getting taxed on just the contributions instead of the whole pot just makes sense.

]]> By: T http://www.moneyunder30.com/roth-ira-or-traditional-ira-what-do-you-do/comment-page-1#comment-1843 T Mon, 03 Nov 2008 21:01:36 +0000 http://www.moneyunder30.com/?p=811#comment-1843 Roth. For tax reasons given here; not at all b/c plan to use as emergency fund. (Married, 30yo, one kid on the way, 75k/y combined income before taxes) Roth. For tax reasons given here; not at all b/c plan to use as emergency fund.

(Married, 30yo, one kid on the way, 75k/y combined income before taxes)

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