ST Alpha - "ummm....accountants, is this true? (the text in red)" (Reading a Post)

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Posts: 151

ummm....accountants, is this true? (the text in red)

Posted by ty97 Dec 26 '20, 14:34

the video says "not much if any"

DanglementRolfeInhumanness.png

Responses:

It’s true, but really only relevant if you make too much money to be able to contribute to a Roth outright. -- (edited) - znufrii Dec 26, 15:41
It is if you don’t already have IRAs. - spamlet Dec 26, 14:38 12
- I don't have IRAs. I only have my 401K - ty97 Dec 26, 14:40 11
  - There's no "Traditional Roth" - there's Traditional (IRA/401k), and Roth (IRA/401k) -- (edited) - Max Dec 26, 14:57 4
    - mine's more of a David Lee Roth IRA -- nm - 🦌sleighformojo🛷 Dec 26, 15:05 3
      - It rocks but never matures? -- nm - David Dec 26, 15:10 1
        
        It wears assless jeans. -- nm - loosilu Dec 26, 15:23
      - I thought that was only for people with no dependents. -- nm - Reagen Dec 26, 15:08
  - Correct. - spamlet Dec 26, 14:42 2
    - It this something I could do annually? - ty97 Dec 26, 14:42 1
      - I don’t think you need a new IRA. You can leave it as a zero balance at Fidelity. -- nm - spamlet Dec 26, 14:43
  - So my plan would be - ty97 Dec 26, 14:42 2
    - As long as you haven’t already taken a deduction for the traditional IRA contribution, yes. -- nm* - znufrii Dec 26, 15:37
    - I think most people suggest leaving it a week or so but I don’t 100% know it’s necessary. - spamlet Dec 26, 14:43

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