Rell Lauren
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JP Morgan Securities
What brokerage is your ROTH IRA with?
- Thread starter El_Mero_Mero
- Start date
El_Mero_Mero
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@hood b. goode @phcitywarrior @Xyrax @MrRDU
I'm an independent contractor and thus won't be having a 401K. I will be setting up an IRA. The question came as to whether I should set up a ROTH or Traditional.
I will be going with a ROTH IRA over a Traditional IRA because I expect to be in a higher tax bracket by the time I make it to 45 years old. These things work in ranges though.
As a US Citizen, what is the highest amount I can make per year that would make a Traditional IRA more worth it to me than a ROTH IRA?
For example, HYPOTHETICALLY SPEAKING, if everything under 70K is better suited for a Traditional IRA, then it wouldn't matter if I make 30K annually now, and then make 69K in 2031 (if I'd still be in an under 70K tax bracket in both situations). If I move up to 100K in 2031 though, that would put me in a different tax bracket and the ROTH IRA makes more sense.
Anyone know how high up I can go (what dollar amount) to where a Traditional IRA makes more sense than a ROTH?
I'm an independent contractor and thus won't be having a 401K. I will be setting up an IRA. The question came as to whether I should set up a ROTH or Traditional.
I will be going with a ROTH IRA over a Traditional IRA because I expect to be in a higher tax bracket by the time I make it to 45 years old. These things work in ranges though.
As a US Citizen, what is the highest amount I can make per year that would make a Traditional IRA more worth it to me than a ROTH IRA?
For example, HYPOTHETICALLY SPEAKING, if everything under 70K is better suited for a Traditional IRA, then it wouldn't matter if I make 30K annually now, and then make 69K in 2031 (if I'd still be in an under 70K tax bracket in both situations). If I move up to 100K in 2031 though, that would put me in a different tax bracket and the ROTH IRA makes more sense.
Anyone know how high up I can go (what dollar amount) to where a Traditional IRA makes more sense than a ROTH?