My now 21 year old opened a Roth last year using what was left from paid internships after paying rent. I’ll add max as a graduation gift, along with a kiss, hug, and a toast to compounding growth.

Don't Roth accounts make the most sense for almost everyone with at least some of their money?

For MFJ couples, the 24% federal bracket goes up to $384K. Adding the $29K standard deduction takes that to $413K. That's more than probably 97% of people make.

Especially for younger people, given the insane deficits we're running, who actually thinks that their marginal bracket will be lower than 24% in retirement??

Anonymous wrote:

Anonymous wrote:Roth. It's not an acronym.

Yes, I do. I'm 60, so my financial situation is probably not yours.

That's interesting. I am 59 and have zero in a Roth. I expect to have a much lower tax bracket in retirement though.

I admit I was hoping the tax rate would increase on rich people, but so far, nah. On the other hand, I have a lot more saved than I expected to, so my income in retirement will probably be higher than it is while I'm working.

Anonymous wrote:

Anonymous wrote:I have over $3M at 46 in a Roth.

How’s you do it?

I have maxed out every year and then did back door rollovers. And then I rolled that into a self directed iRA where I invest in mortgage backed promissory notes with very high rates of return.

Anonymous wrote:I have over $3M at 46 in a Roth.

How’s you do it?

45. I have 1.1m. Nvda. Thanks motley fool.

Anonymous wrote:Roth. It's not an acronym.

Yes, I do. I'm 60, so my financial situation is probably not yours.

That's interesting. I am 59 and have zero in a Roth. I expect to have a much lower tax bracket in retirement though.

I have about a million in a Roth at 46. When my income was lower I rolled a regular IRA into a Roth and paid the taxes. I also put some of my 401K money into a Roth 401K.

I have over $3M at 46 in a Roth.

Close. I am 50. I started saving for retirement in 1994 and converted what I had saved to Roth in 1998. Added every year since then. Had access to a Roth 401k at one point as well.

Roth. It's not an acronym.

Yes, I do. I'm 60, so my financial situation is probably not yours.

Does anyone on DCUM have millions in a ROTh? How old and how much do you have?