The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Non-Deductible IRA Question||Date: 7/7/1999 5:50 PM|
|Author: sequin||Number: 17017 of 119722|
I have an IRA question...
Here's the situation: my husband & I make too much money for the Roth IRA (tough problem to have ;-), and we're already maxing out our 401k's. We would like to start a couple of non-deductible IRA's. Of course I realize that our $2000 each per year contribution would be after tax.
My question concerns the withdrawals -- assuming we make the withdrawals after age 65 -- are the withdrawals taxed too? If so, it seems as if we're being double taxed. Is this a good investment option for us?
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