The principal is tax free on a roth at anytime. The growth has to wait till 59.5

Sign up, and CougarBoard will remember which categories you want to view. Sign up

Report problem with this ad

Jan 18, 2020
12:24:51pm

RexIdaCoug All-American

The principal is tax free on a roth at anytime. The growth has to wait till 59.5

Report problem with this ad

RexIdaCoug

Bio page: RexIdaCoug
Joined: Nov 17, 2006
Last login: May 9, 2024
Total posts: 17,386 (2,317 FO)

Report problem with this ad

Messages

Author

Time

I'm about to dump a bunch of cash into a Roth IRA. Someone stop me if this is

vegasnative

1/18/20 11:18am

I endorse this plan

CBaass

1/18/20 11:18am

haha thanks. It is just so hard to find straight forward information in this

vegasnative

1/18/20 11:20am

As long as this doesn't mean you are missing out on a 401k match, this is smart.

Pedant

1/18/20 11:20am

Kinda work for myself (family firm) so no 401k, let alone any matching.

vegasnative

1/18/20 11:21am

Then IRA is correct choice. Roth? Also correct choice since it sounds like

Pedant

1/18/20 11:23am

This is what I am thinking.

vegasnative

1/18/20 11:24am

What is your current tax rate and what do you expect it to be when you retire? Roth is generally a fine option but in

Pimpin4Paradise

1/18/20 11:22am

My tax rate should be hire in the future (knock on wood), so that is why I am

vegasnative

1/18/20 11:24am

Not just in the future, but specifically in retirement.

Pimpin4Paradise

1/18/20 11:25am

Most people will have a lower tax bracket at retirement

Baron

1/18/20 11:27am

compared to their top earning years, yes. Not necessarily when you are just

Pedant

1/18/20 11:28am

and confirmed on profile that he's a lawyer

Pedant

1/18/20 11:28am

I don't know how a firm has anything to do with it.

Baron

1/18/20 11:35am

"firm" often means lawyer. Lawyers often retire quite wealthy.

Pedant

1/18/20 11:37am

Hahaha. Not true. Nice people still think that.

Baron

1/18/20 11:48am

Right. I anticipate my rate to be substantially lower in retirement. For that reason I do primarily traditional

Pimpin4Paradise

1/18/20 11:29am

while you're likely right, keep in mind, you're comparing your marginal rate now

Pedant

1/18/20 11:26am

Good point. I anticipate it being higher in retirement. I also feel like

vegasnative

1/18/20 11:33am

Politically it is likely to be lower. Tax rates have been dropping.

Baron

1/18/20 11:36am

Maybe I'm a pessimist, but I see the future being more bernie and less trump.

vegasnative

1/18/20 11:39am

It's a good plan

nut-e-professor

1/18/20 11:47am

This.👍🏼

BringYourUltimate

1/18/20 12:03pm

Do it. Stay disciplined and make monthly contributions.

AeroCoug

1/18/20 12:13pm

You're talking about withdrawing from the taxable accounts right? Can't withdraw

vegasnative

1/18/20 12:14pm

The principal is tax free on a roth at anytime. The growth has to wait till 59.5

RexIdaCoug

1/18/20 12:24pm

Roth Rules...

AeroCoug

1/18/20 12:33pm

Maxing out your IRA and/or 401k is always a good move

therock

1/18/20 1:58pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad