Re: [TSP_Strategy] Maxed out Retirnent accounts

 

What do you mean "not able to use Roth"?

Regardless of income, you can always put into a traditional and then roll-over to Roth. There are issues if you have a large existing Traditional, but it is possible to put funds into Roth.

As long as funds are in a retirement account, you don't pay taxes on any growth.

If income is too high, your IRA contribution is not deductible, but you still can and should contribute to an IRA.

If you're talking about funding a taxable account outside of a retirement plan, are the non-taxable bonds exempt from both federal and state tax? Would you expect them to be hurt when interest rates are raised?

I'm just not clear on your question. Please clarify. Hope my comments are helpful in some way.

On Monday, September 21, 2015, charleswsmith1@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

 

Buy non taxable bonds next?

I am 12 step 2, wife 13 step 2. With our mandatory overtime I am afraid we will get close to the income cap if I buy too much stuff in a taxable brokerage account within 5ish years and not be able to use ROTH.

Just trying to not raise our tax rate since it's so high and we don't have many deduction besides just mortgage and some work related expenses.

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-- Cindy King

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Posted by: Cindy King <cindy.kingde@gmail.com>

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