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Starting with ROTH investments

Hi, I have invested into taxable accounts for a while now, mostly with the following allocation (sorry I know it is all over the place with a lot of funds) Details: Married filing jointly, 28% Fed, 10.23% CA, no debt. One time investment (before I turned to vanguard) Fidelity Emerging Market - FEMKX...
by sc3
Sat Apr 06, 2013 2:09 am
 
Forum: Investing - Help with Personal Investments
Topic: Starting with ROTH investments
Replies: 1
Views: 418

Re: traditional IRA with 13K spousal income

Thanks!, More reading ahead!. My goal was to open a non-deductible IRA and then convert to ROTH (and keep doing it going forward, as long as IRS allows it), so worried about SIMPLE affecting tax calculations going forward (spouse has a full time job this year with 401k etc.). Anybody has a suggestio...
by sc3
Wed Apr 03, 2013 4:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: traditional IRA with 13K spousal income
Replies: 3
Views: 344

Re: IRA and backdoor IRA Questions

I called CapitalOne360, the CSR said I can't do ACH outside of their sharebuilder IRA, and would need to fill the "transfer form" to move any monies to a 3rd party brokerage. Not sure if the CSR understood my questions. Will try again tomorrow. Ally apparently doesn't do any ACH (including...
by sc3
Wed Apr 03, 2013 4:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA and backdoor IRA Questions
Replies: 8
Views: 552

traditional IRA with 13K spousal income

Hi, I apologize for this question, but want to make sure given my noob status with IRAs. My spouse had around 13K in self employment for 2012. Given our household income, we do not qualify for the deductible IRA. My question is, based on 13K income (before any taxes, including self employment), can ...
by sc3
Wed Apr 03, 2013 2:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: traditional IRA with 13K spousal income
Replies: 3
Views: 344

Re: IRA and backdoor IRA Questions

Thanks for all the answers and suggestions. Just thinking whether ING IRA savings will allow ACH pull from Vanguard? Fatwallet etc. says ING allows ACH target for savings account, but their website is not clear about it. I plan to ask their customer service reps. I could open a traditional IRA savin...
by sc3
Wed Apr 03, 2013 12:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA and backdoor IRA Questions
Replies: 8
Views: 552

Re: IRA and backdoor IRA Questions

Thanks again!, One more question: Since I want to invest in a couple of funds (3K min), I plan to transfer 5K for 2012 and 1K for 2013 and invest in VMMXX (as a place holder) and then move it to my targeted fund when I convert to ROTH. I want to keep the VMMXX fund active so that I can continue to a...
by sc3
Wed Apr 03, 2013 1:05 am
 
Forum: Personal Finance (Not Investing)
Topic: IRA and backdoor IRA Questions
Replies: 8
Views: 552

Re: IRA and backdoor IRA Questions

thanks for the answers. I do plan to keep an eye, but just was worried what happens if I miss tracking the amounts by one or two cycles. What is the worst that can happen, from the tax stand point? Will I have to forego the additional money, or do I pay fines? Glad to know I can do the corrective di...
by sc3
Tue Apr 02, 2013 10:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA and backdoor IRA Questions
Replies: 8
Views: 552

IRA and backdoor IRA Questions

Hi, Apologize in advance if this has been previously answered, tired reading through many posts on the topic, but did not get a definitive answers to questions I have (total noob on all matters related to IRA, and generally a dunce in all things finance). - I dont have an IRA account, just 401k at w...
by sc3
Tue Apr 02, 2013 8:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA and backdoor IRA Questions
Replies: 8
Views: 552

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