No. of Recommendations: 0
Hi all,

I have a question that, on the surface, might sound a little shady. So just let me say up front that I'm an honest guy and ultimately, I'll do the right thing!

On to my question:

I've set up a Roth IRA for both my wife and for myself. Typically, our incomes fall within the AGI to qualify for a Roth IRA. However, this year, I liquidated some stock to purchase our first home. Doing so pushed my AGI over the Roth IRA limit. Prior to all this, I had already made my Year 2000 contribution to my Roth.

So my "shady" question is this: Who's gonna know? The IRS knows nothing of my Roth IRA. My online broker knows nothing about my AGI. I don't turn 59.5 (and therefore won't dip into my IRA) for another 30 years. So why not play dumb and blow it off?

I'm certain there's a reason, otherwise everybody and their brother would have a Roth, regardless of their AGI.

Just curious...

Thanks in advance for your responses.


Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.
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.