Reply to What is the deal with a Roth IRA?

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Reply to "What is the deal with a Roth IRA?"

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[quote=Anonymous]Resurrecting this old thread because these are the exact issues I still have. Can someone break this down for me or even give me the IRS code sections or refer me to a fee only financial advisor in NW DC? Our HHI is about $200k and we each contribute to our company's 401k. Not sure what people mean when they say to max it out but I contribute up to 4% because that's what my company matches. I have a standard IRA that I stopped contributing to long ago but it has $30k and wonder if I should covert if to a Roth IRA. I opened a ROTH IRA through Vanguard a few years ago and contributed $5k in 2013. We are in the process of preparing our taxes with our tax accountant and will soon find our our AGI. A little worried that our AGI is above the income limits for a Roth, if so, can I transfer the Roth contributions into our kids 529 plan before April 15? Going forward, should we contribute to the standard IRA and have it automatically roll over into a Roth? Are we supposed to contribute to the 529 from post tax or pre tax income?  I know- lots of novice questions! After years of working hard but earning much much lower HHI, we finally hit $200k and are able to save more aggressively for kids college and retirement. We don't have any debt - just 1 joint family credit card we pay off every month and the mortgage. Help me with the financial strategy - it's all new to us.  [/quote]

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