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/biz/ - Business & Finance

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23954824 No.23954824 [Reply] [Original]

Do you have a Roth IRA? Why or why not?

>> No.23954836

yes. company match

>> No.23954848

>>23954824
Yes because I'm not retarded. Tax free gains for life

>> No.23955423

>>23954824
No. I make too much money to qualify and I don't want to bother with the backdoor bullshit. I contribute the max to my 401k though.

>> No.23955432

>>23954836
This

>> No.23955462

>>23954824
Yes because you can withdraw contributions at any time tax free or up to $10k in earnings to buy a first home

>> No.23955486

I should, but first I have to figure out what the fuck is going on with my 401k because I think that the people managing it may have defrauded both me and everyone else working for my company at the time.

>> No.23955545

>>23954824
I've got 2

1st one is through my company retirement program. I put in 10% of my check every week and my company matches 4%

2nd one is through Etrade and I just put money in whenever I can and buy stocks that are going to be around a long time (TSLA, AAPL, T, IBM, BA, etc)

Other than that the rest of my investments are crypto. My Roths are just for my to forget about. Hopefully I'll be able to retire long before I need to use that money.

>> No.23955543

>>23954824
No
I plan to retire at age 38, live off personal savings until age 65, and then live off my state job's pension until death.

>> No.23955547

>>23954824
Yes, because I wanted to diversify tax treatments vis my non-Roth 401k.

Also it allowed me to earn ridiculous options trading gains tax free.

>> No.23955549

>>23954824
Not yet but soon.

>> No.23955564

>>23955543
Rule 72(t) and Roth conversion ladders might get you some flexibility there, if you haven't already looked into them.

>> No.23955584
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23955584

>>23954824
>maxed out 403b
>maxed out rothIRA
>company pension
>$1000/mo into VOO

>> No.23955611
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23955611

>>23954824

>> No.23955656

Thank you. I'm retarded and trying to decide if its worth investing time into figuring out

>> No.23955975

>>23954836
Lol companies don't match IRAs. They match 401ks. You don't have an IRA, but you should.

>> No.23956029

I had a 401k but the waiting till 65 was retarded. Withdrew and put into Bitcoin. I also started my own contracting business.

Should I get an IRA? I just want to hold bitcoin. How can I not pay taxes on my cones?

>> No.23956072

>>23956029
You can buy GBTC in an IRA. You can transfer your 401K to an IRA and buy GBTC. You should not cash out a 401k/IRA. The more you have in there, the less you need to retire from crypto. Roughly, $100K in a retirement account in index funds now is $1 million in 3-40 years.

>> No.23956085

>>23954824
of course, but they'll probably rescind the roth rules before i touch it.
they already killed the stretch IRA.

>> No.23956267

>>23954836
Nigga no one can match an ira

>> No.23956426

>>23954824
I have a roth 401k. I'd like to do a roth IRA but I don't really make enough to invest in crypto, pay off my student debt, AND contribute to one in a meaningful way.

>> No.23956468
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23956468

>>23954824
Yes.
I'm going to dump another 6K into it in January

>> No.23956562

>>23956468
What other investments do you have and what age?

>> No.23956635

>>23956562
30 yo
I also have 3k in a 401K, but the funds are garbage with extremely high expenses so I don't contribute to it anymore.

>> No.23957206

>>23956072
This--if you believe in BTC long term, buy GBTC through your Roth IRA; I use Vanguard. There is a hefty premium but that buy-in fee will be insignificant when BTC is 500k per. You are literally paying 0% tax on your crypto gains.

>> No.23957228

>>23957206
There's actually a good chance the premium will work in our favor. There's less GBTC than BTC. In the Golden Bull Run, I'm thinking GBTC will pump harder than BTC.

>> No.23957339

>>23956635
Do you invest in ETFs or mutual funds like VOO at all?

>> No.23957407

>>23956635
Transfer to Vanguard IRA. Buy GBTC. You fucked up.

>> No.23957448

>>23954824

Yeah I got a Roth IRA from when I made 90k a year but now I make 3x that and can’t contribute. I do the maximum IRS contribution to my 401k of $57,000 a year though.

https://www.investopedia.com/retirement/401k-contribution-limits/

>> No.23958132

yes, and self manage it to invest in crypto.

>> No.23958364

My company doesn't match 401k so I max out the roth, throw a couple percent into the 401k, put the most into a high yield savings account right now because i'm saving for a house.

>> No.23958424

>>23955584
what's in the Roth then? more VOO?

>> No.23958464

Someone redpill me on dividend vs index investing. I like the idea of getting monthly/quarterly dividends, but a lot of stuff I've read says i'll be better off just buying a S&P 500 index fund.

>> No.23958517

>>23954824
yes mate i met roth IRA in the troubles he was a pretty awesome bloke if i do say myself

>> No.23958649

>>23958464

Dividends in taxable accounts are inefficient unless you make basically nothing. REITs are the worst

>> No.23958947

>>23954824
Tsp

>> No.23958966

>>23954824
UNN will be my roth IRA

>> No.23959014

>>23954824
Everyone should...no good reason not to. Having one and maxing it out yearly is the only investment I make that isn’t a crypto.

>> No.23959486

>>23954824
No because I am 19 and in college and it would decrease my financial aid a lot. I maxed it out one year because I thought I was smart and because the FAFSA doesn't count retirement assets. But I was actually stupid and forgot my school requires the CSS app too which required me to state retirement assets like Roth IRAs. I will sadly have to wait till I graduate.

>> No.23959736

>>23954824
the irish republican army is an internationally recognized terrorist group.

>> No.23959784

Nope. I didn't forward a chain letter back in the 90's. According to the email I should have like 9 years before I die. Oh well.

>> No.23959811

Nice to see half the anons in here have no idea what an Roth IRA is