There is an income limit when funding a Roth IRA. But be aware, this is your AGI, not just your earnings. What should you do if you contributed when you weren’t supposed to and what other investing tools can you use instead?
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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results….(read more)
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REVEALED: Best Gold Backed IRA
Is this gross income or net income ? Pre 401k or post 401k ? Anyone know before i have to pull my money back out ?
Can I contribute enough to my pretax 401k to bring my income below the maximum limits?
If I gross 125k does the 5k I put in my pretax 401k allow me to still fund my Roth IRA with the maximum 6k?
Good info…. I contributed to a Roth IRA,but sold stocks that now would put me over the limits for that Roth IRA so what do I do now as I wasnt expecting the added income from the sale of stocks.
Does 403b (TSA) have optional Roth too, like 401k Roth mentioned in video? Neither are an IRA Roth?
I'm disabled but I have a Roth account and I am reinvested the interest to the account. I'm 55yrs old and a widow. Is there a maximum amount I can put in.
Did I hear that correctly? 401k plans are required to have a Roth “door”? This is the first time I’ve heard this. I thought it was plan specific and that it’s not a common option. Nifty!