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Reply to "Max out TSP, but make too much for Roth IRAs. How else do we save for retirement?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Contribute to a non deductible Ira. Then convert to a Roth. There is an income limitation for contribution, but not conversion. Contribute for 2012 first, if you still have money, then contribute for 2013. Still have money? Convert any prior employer 401ks and iras to roths. [/quote] This is good advice, except I probably wouldn't spend any money to convert existing accts to Roths. Instead try a low cost mutual fund, or i-bonds.[/quote] +1 But you need to be careful if you have older deductible IRAs (non-Roth traditional IRAs for which you got a tax deduction for contributing). When you convert the new non-deductible IRA to Roth the IRS looks at all traditional IRA money that you have. We are planning to do the "backdoor" Roth as soon as we roll over older traditional IRA money into TSP. http://www.bogleheads.org/wiki/Backdoor_Roth_IRA[/quote]
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