UnThreaded | Threaded | Whole Thread (20) | Ignore Thread Prev | Next
Author: dsemmler Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 78686  
Subject: Re: Roth vs. Traditional IRA Date: 8/31/2003 11:17 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Greg wrote,

4)Equal amounts in a Traditional IRA(or the 401k if you have good investment choices) and a Roth IRA.

You might want to contribute something like $1.30 to the traditional IRA or 401K for every dollar contributed to the Roth IRA to make them equal after the traditional IRA tax deduction.

You did not indicate this point and I just want to clarify for others but you can only contribute a maximum of $3000 (or $3500 depending on your age) to all IRA accounts.

I am not quite sure why you advocate making contributions to a Traditional IRA and a Roth IRA. In your example, you would have $1500 in a TIRA and $1500 in a Roth IRA. Can you explain the benefit to that versus putting the max in just the Roth (if you qualify)?

Just to recap, you are limited to a total contribution of $3000 (or $3500 depending on age) to ALL IRA accounts. You cannot contribute the max to a Traditional IRA and the max to a Roth IRA.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (20) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Saul's Investing Discussions

Skyworks Mid-Quarter Review
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.