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- Whats the difference between a Roth Basic and a Roth Bonus . . . - Reddit
Roth basic: your normal paycheck Roth bonus: any annual year-end bonus paycheck you get You’d usually do just the basic unless you’re not able to max out with your normal paycheck and want to direct a portion of your bonus to the 401k Depending on your income, traditional 401k is likely better for you tax-wise than a Roth 401k is
- Whats the point of Roth IRA? : r personalfinance - Reddit
Roth accounts are a hedge against future tax hikes and tax rate insecurity There’s a reason Roth accounts are always subject to elimination every few years, tax revenue from Roth users is far less than from traditional
- SO Confused About How to Actually Invest my Roth IRA : r . . . - Reddit
A few weeks ago I finally opened a Roth IRA with Fidelity, transferred the max yearly contribution over It was my understanding that the money would sit there and wouldn't grow until I logged in and allocated where I wanted it to be invested myself I logged in today to do that, and to my surprise there was growth?
- Roth IRA vs. Traditional IRA? : r personalfinance - Reddit
Total value of Roth IRA and post-tax brokerage account: 97,540 If he puts the $6000 in a traditional IRA, puts the tax savings in a brokerage account, and keeps both there for 40 years: His 2021 income was $30,000 He deducts the standard deduction and his $6000 contribution His total taxable income is $11,450
- 401K. . . . Pre-Tax, After Tax, and or Roth??? : r personalfinance - Reddit
Essentially you need to look at effective tax rates vs top marginal Roth contributions (and thus withdrawals) are taxed at your top marginal tax rate (so 24% for your income) because all post-tax money is fungible Traditional contributions are tax-free, but all withdrawals are taxed at your income tax rate
- Roth IRA Rules - Reddit
Confusing ROTH IRA contributions for living abroad Hi! Basically, I'm trying to see if I can contribute to my ROTH IRA, but I've been researching it and it seems quite tricky Usually, a US citizen can contribute up to $6,000 All my income is Foreign Earned income, so basically I can't add any in EXCEPT for $1,100 of freelance income I got
- What to invest in a Roth IRA : r fidelityinvestments - Reddit
Hi! Just opened up a Roth IRA with fidelity I just put $100 in it to start It says “your Roth IRA isn’t fully invested” and when I go to tap on that, it says “forge your investment path” with 3 options: invest and go, follow the market, and customize your approach If I tap on one it gives me more options with different stocks and I’m like really confused on which one to invest
- Why do most people recommend the Roth? - Reddit
The Roth accounts get taxed upfront - you pay your taxes on the income you make before it gets invested in your account so you can withdraw it tax free Standard accounts are tax deferred - you don’t pay income taxes on the money invested but you pay taxes when you receive it later
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