The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Some advice please||Date: 12/23/2004 1:38 PM|
|Author: buzman||Number: 43693 of 76883|
My advice to you is to seek an hourly based financial planner.
If your wife is making that kind of money and you have credit card debt then you need to do better planning.
Here is something free-since it is Christmas.
Neither of you can contribute to a Roth if your MAGI is >160K. Phaseout 150-160K
If your MAGI is >160K neither of you can make a deductible TIRA contribution.
You can make tax deductible contributions to your IRA and 401k but the deductiblity of IRA contributions is subject to MAGI limitations.
See IRS PUB 590 www.irs.gov
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|