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Re: convert ROTH back to Traditional for taxes?

wow, thank you for the reply. I'm trying to follow your post but not quite getting it yet. let me provide more info to clarify. married. 39 and 40 years old. child is 6 yrs old. income: $225k/yr. (150k husband/75k wife). wife has no work benefits as she works for a wealthy private family and not a c...
by floridanurse
Sat Apr 06, 2013 10:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: convert ROTH back to Traditional for taxes?
Replies: 5
Views: 485

Re: convert ROTH back to Traditional for taxes?

yes, i was wondering if it was beneficial to do it? am I able to recharacterize back to a ROTH afterwards? should I do that? that is basically i think my question
by floridanurse
Sat Apr 06, 2013 4:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: convert ROTH back to Traditional for taxes?
Replies: 5
Views: 485

convert ROTH back to Traditional for taxes?

My wife and I (married in 2012) are filing separately for our taxes. This will maximize our total return according to accountant. One thing I did was in 2012, fund $5000 into a ROTH via the backdoor method. Since we are filing separately, the accountant said, I could convert that ROTH back to a tIRA...
by floridanurse
Sat Apr 06, 2013 10:39 am
 
Forum: Investing - Help with Personal Investments
Topic: convert ROTH back to Traditional for taxes?
Replies: 5
Views: 485

Re: Backdoor ROTH - what to do with the money?

I guess to answer your question, I just look at our funds as being at separate institutions and different parts will be utilized at different times in our lives. To Clarify: my 401k - fidelity. my roth - fidelity wife roth - fidelity savings: VG I consider our savings at VG the portfolio that we wil...
by floridanurse
Sat Dec 29, 2012 3:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor ROTH - what to do with the money?
Replies: 3
Views: 266

Backdoor ROTH - what to do with the money?

Hi all, I just opened 2 ROTH accounts for myself and wife. $5k each put into tIRA then converted to ROTH a couple days later. I wanted to get the contributions in for 2012. Next month I will place another $5k in each tIRA and convert again for 2013. Every year I plan to convert the max allowable for...
by floridanurse
Sat Dec 29, 2012 2:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor ROTH - what to do with the money?
Replies: 3
Views: 266

For wife: TIRA vs Roth

Wife has income of 100k. Works for private family of substantial wealth. No benefits at all. Just opened a fidelity TRaditional IRA for $5k for her for 2012. Wondering if its best to keep as traditional or covert to Roth? My income is btw 150-200k, I have a 401k I max and was going to open same thin...
by floridanurse
Sat Dec 15, 2012 2:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: For wife: TIRA vs Roth
Replies: 4
Views: 410

Re: 401k (pretax) vs Roth 401 (aftertax)

thank you for the replies. @ M1garand - no pension at all @Bob'snotmyname - I contribute max 401k, so 17.5k next year. Plus since we got married this year, I just signed up during the open enrollment for health insurance. We are doing a "consumer driven family HDHP" - going to cost us $375...
by floridanurse
Sat Dec 01, 2012 1:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k (pretax) vs Roth 401 (aftertax)
Replies: 6
Views: 851

401k (pretax) vs Roth 401 (aftertax)

Hi all, last month I noticed that I reached my 401k max of $17k. There is a Roth 401 option that I wasn't really sure what it was, so I just put like 2% allocation and then the rest to the '401k' option. My pay stub for the year shows: 401k: $14797.64 Roth 401: $2042.03 I spoke with payroll this mor...
by floridanurse
Fri Nov 30, 2012 4:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k (pretax) vs Roth 401 (aftertax)
Replies: 6
Views: 851

Re: fannie stock - worth it?

Why not buy a balanced portfolio of low-cost index funds instead? I have one - unfortunately at the moment its with ameriprise (the family financial advisor). This will change in the future. however, I take about 5% of my savings to 'speculate' on things like the question above. I have a few thousa...
by floridanurse
Sun Dec 04, 2011 10:11 pm
 
Forum: Investing - Theory, News & General
Topic: fannie stock - worth it?
Replies: 7
Views: 608

fannie stock - worth it?

I looked today and see that Fannie Mae is trading for 20 cents/share. LOL http://www.marketwatch.com/investing/stock/FNMA considering it used to trade at $70/share and the fact that this company is backed by the government, I wondered today if it would be worth buyin? I'm not talking about throwing ...
by floridanurse
Sun Dec 04, 2011 8:39 pm
 
Forum: Investing - Theory, News & General
Topic: fannie stock - worth it?
Replies: 7
Views: 608

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