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Reply to "Any advantage to IRAs if you are over the income limits?"
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[quote=Anonymous][quote=Anonymous]Let's be clear about something: A Roth isn't for everyone. If you're in your peak earning years now you're probably paying at a higher tax rate than you will be in retirement, so it makes more sense to take income tax deductions now. That said, in this case where deductions are not possible, getting to a backdoor Roth IRA makes sense.[/quote] We have traditional IRAs for the tax free growth. We're in our peak earning years so we forego the backdoor Roth conversion. If I were 35 instead of 50, though, I'd do the Roth.[/quote]
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