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Reply to "What is the deal with a Roth IRA?"
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[quote=Anonymous][quote=Anonymous]Let me break this down. Our HHI is well above the limit for roth IRA. We max out two 401ks. At the beginning of each year - since I think 2008 - I deposit $5000 (now $5500 I think) in to traditional IRA accounts for each of me and my wife, and then immediately transfer (convert) that in to our respective Roth IRA accounts. This is a no-brainer because we can't do pre-tax deposits to IRAs because we've already done the max to 401ks. So the ability to convert after tax dollars to account thats will grow tax-free and pay out tax-free, no-brainer! QED. [/quote] Thanks![/quote]
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