tag:blogger.com,1999:blog-5601819916630680133.post1474419312680014522..comments2024-01-23T23:07:00.959-08:00Comments on GRACEful Retirement: A Roth or a Traditional IRA?Grace.http://www.blogger.com/profile/03557395027685855901noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5601819916630680133.post-567985566126603522010-01-04T15:21:59.000-08:002010-01-04T15:21:59.000-08:00I have a traditional 401(k), a Roth 401(k), a Roth...I have a traditional 401(k), a Roth 401(k), a Roth IRA, and a bunch of traditional IRA's that I'm converting to Roth this year since the income restrictions on conversions are gone. I'd convert the traditional 401(k) if I could, but I can't; instead, I'm only funding the Roth 401(k). I'm optimistic that I'll be in a higher tax bracket in retirement, so the more my money can grow tax-free, the happier I am. The tax hit I'm paying today is well worth it.frugal zeitgeisthttps://www.blogger.com/profile/17804781758510341558noreply@blogger.comtag:blogger.com,1999:blog-5601819916630680133.post-31209111653363026452010-01-03T17:55:31.222-08:002010-01-03T17:55:31.222-08:00I'm doing a tradional 401k and a ROTH IRA.
Bu...I'm doing a tradional 401k and a ROTH IRA.<br /><br />But I have to say that I am <b>greatly</b> fearful of the ROTH IRA benefits being taken away very very soon!<br /><br />While I've thought about that for years (others have too), given how the current administration in DC is spendinG $$$ like a drunk sailor, how can they possibly allow the Golden Goose that is a ROTH (IRA or 401k) to remain?<br /><br />There are literally <b>billions</b> of dollars in ROTH IRA's (and more when you consider tradional IRAs, 401ks, SEPs etc) that will go untaxed for years and years - if ever!<br /><br />Given the national debt levels I just don't see how the pols can let this pot of gold be untouched for decades to come!<br /><br />Even before Al Frankin became a Senator others in DC wanted to repeal the ROTH, as well as take over 401ks!<br /><br />This may be a case of if it seems to good to be true...<br /><br />I hope not. But... :-[MasterPohttps://www.blogger.com/profile/07247333453805284751noreply@blogger.comtag:blogger.com,1999:blog-5601819916630680133.post-29364312806120466462010-01-03T11:28:25.262-08:002010-01-03T11:28:25.262-08:00We have chosen to invest in the Roth 401K vs. gett...We have chosen to invest in the Roth 401K vs. getting the tax advantage. I figured that if we ever needed to get some of that money, we could without a tax penalty. (just the money we put in). We have about 15 years left before retirement, so it is a good deal. My husband's company puts in about 8%, but it goes directly in the traditional 401K.Sharonhttps://www.blogger.com/profile/13940623529019637336noreply@blogger.comtag:blogger.com,1999:blog-5601819916630680133.post-6452951608072420652010-01-03T11:23:19.747-08:002010-01-03T11:23:19.747-08:00While it might not make sense to convert 401k mone...While it might not make sense to convert 401k money to a Roth, it probably makes sense to start contributing to a Roth. <br /><br />In your place, I would contribute the minimum needed to get the full company match. Any extra savings would go in the Roth.Brad Fordhttps://www.blogger.com/profile/07089057016794199665noreply@blogger.com