Search found 7 matches

Return to advanced search

Re: How much do you spend in a week? (Mon-Sun)

Without rent? Doing the yearly expenses/52 method it looks like about $400/week, as a single 20 something who mainly cooks for myself
by nielsbohr
Thu Feb 21, 2013 10:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much do you spend in a week? (Mon-Sun)
Replies: 50
Views: 3201

Re: Ways to lower my MAGI for Roth IRA purposes

Oh I've got 6 months in cash, plus another six in taxable accounts, plus however much I would get in unemployment insurance, plus some very easy luxuries to cut, so when I say extended I mean EXTENDED; I just have a bit of a 'once bitten, twice shy' mentality.
by nielsbohr
Sun Feb 10, 2013 1:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ways to lower my MAGI for Roth IRA purposes
Replies: 17
Views: 1645

Re: Ways to lower my MAGI for Roth IRA purposes

Yes. Roth IRA withdrawals have an order and the first thing to come out are the ordinary contributions. http://fairmark.com/rothira/distrib.htm THANK YOU, this is exactly what I was looking for. I knew about the 5 year seasoning requirement for earnings, but didn't know how it applied to conversion...
by nielsbohr
Sun Feb 10, 2013 12:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ways to lower my MAGI for Roth IRA purposes
Replies: 17
Views: 1645

Re: Ways to lower my MAGI for Roth IRA purposes

Hmmm, both good points. Alright, so here's a question then (and sorry this is starting to drift somewhat from the original post): Let's say I have 20k in contributions each in a regular and a roth ira. If I convert all of the regular ira into the roth ira (and pay the taxes of course), does it then ...
by nielsbohr
Sun Feb 10, 2013 2:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Ways to lower my MAGI for Roth IRA purposes
Replies: 17
Views: 1645

Re: Ways to lower my MAGI for Roth IRA purposes

There's two main reasons why I'm going with the Roth: The first is that I'm sheltering effectively more money, since 17k tax free is better than 17k tax deferred; The second is that I like the fact that, if worse comes to worst, I can access my contributions to a Roth account. Having lost my job in ...
by nielsbohr
Sat Feb 09, 2013 3:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ways to lower my MAGI for Roth IRA purposes
Replies: 17
Views: 1645

Re: Ways to lower my MAGI for Roth IRA purposes

Thank you all for your replies, they answered all of my questions. As to my personal situation, I elided some details to keep the question as straightforward as possible, but here are the full details: I was asking for my 2013 Roth IRA planning. My 2012 Roth is already fully funded, and because my r...
by nielsbohr
Sat Feb 09, 2013 3:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ways to lower my MAGI for Roth IRA purposes
Replies: 17
Views: 1645

Ways to lower my MAGI for Roth IRA purposes

I'm right at the cusp where I earn just slightly too much to qualify for a Roth IRA. What are some ways that I can lower my MAGI? I have access to a 401(k) and HSA at work, would increasing my contributions to them lower my MAGI or not? What about selling some of my stock holdings at a loss? Am I co...
by nielsbohr
Sat Feb 09, 2013 12:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ways to lower my MAGI for Roth IRA purposes
Replies: 17
Views: 1645

Return to advanced search