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Good morning Fools,

I'm seeking out info and opinions regarding contributing to a traditional IRA even if I can't take the deduction. My ROTH's are fully funded, my wife is maxed on her 401k and my employer has a noncontributory P/S plan.

Can I still contribute to my traditional IRA?

If so, Is the growth still tax deferred?

If I can and the growth is, is this the best option or should I just start an additional investment account earmarked for "retirement" and tell my self not to touch it and pay the taxes as I go?

Thanks for your input.
Russ
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I'm seeking out info and opinions regarding contributing to a traditional IRA even if I can't take the deduction. My ROTH's are fully funded, my wife is maxed on her 401k and my employer has a noncontributory P/S plan.

Can I still contribute to my traditional IRA?


If you have fully funded a Roth IRA, you cannot make any additional contributions to an IRA account for that tax year. You are limited to a total contribution of $3000 ($3500 age permitting) across all IRA accounts.

If you have additional money you want to invest, a taxable account is probably the way to go. If you follow a LTBH strategy in your taxable account, you will reduce the tax impact to some degree.

dt
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You are allowed to put $3000, $3500 if you are old enough, into IRAs. You can divide that money among traditional IRAs and Roths in any manner you see fit.
If your income level makes you eligible for a Roth, that's almost surely the better choice, meaning you can't put money into a traditional IRA UNLESS you have self-employment income and have a SEP-IRA.
Best wishes, Chris
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