Anonymous
Post 02/28/2024 10:17     Subject: Who has the most in their ROTH
Anonymous wrote:How much?
How old are you?
(If combining with a spouse break each out individually)

If you think the balance is particularly high what investment/s did exceptionally well to get you there?


Only I have a mega roth via my work, not my DH. I have about 375K in my roth (depends on the day!). I do not think this is particualry high, but I manage it myself and am very risky and it has paid off. I'm almost entirely in:

-XOM
-NOW
-NVDA
-QQQ
-Yesterday just put 30K that was sitting as cash from my 2023 conversion into PANW. I'm quite excited about this one as I think that will eventually double.
Anonymous
Post 02/27/2024 18:03     Subject: Who has the most in their ROTH
Anonymous wrote:
Anonymous wrote:I have nearly 1M+ in my Roth. But some of it was from rolling over a old employer 401k to a roth and paying taxes on it. I did it when I was in grad school so I literally had 0 income otherwise. I had 2 zero income years, so I phased it out those two years. Keep in mind this is was back in 2010-11. so the 200k i did back then is worth 1M. I paid maybe 30k in total taxes on this.

I now have a separate roth 401k too. But my tax rate is higher and I split between the roth and regular 401k as a tax hedge strategy.


I’m converting as much as I can to a Roth because I absolutely know I will be in a higher tax bracket when I “retire” and have to take RMDs at 72 yo in 24 years. And I fully expect the govt to raise taxes in the future. All this spending has to be paid for somehow.

So few people on DCUM do this. And it is the right answer for most people. If you aren't certain which is better for you, split it. You don't have to be all one or all the other.
Anonymous
Post 02/27/2024 17:59     Subject: Who has the most in their ROTH
Anonymous wrote:
Anonymous wrote:38 and 250k in Roth, no backdoor contributions, just the 5-6k in my earlier years with a couple good investments. Make too much money to contribute and don’t bother with back doors


You "don't bother" with the backdoor Roth IRA option? It takes all of 15 minutes once a year and gives you access to the most valuable investment account in existence.


It literally takes me about 5 minutes to do the Backdoor Roth method for my spouse and I combined. Hey to each their own.
Anonymous
Post 02/27/2024 17:58     Subject: Who has the most in their ROTH
Anonymous wrote:38 and 250k in Roth, no backdoor contributions, just the 5-6k in my earlier years with a couple good investments. Make too much money to contribute and don’t bother with back doors


I also make “too much money” to contribute directly to a Roth but I absolutely take advantage of the Backdoor Roth contribution method. Anything I can do to legally keep Uncle Sam’s wasteful hands off my money I will take advantage of. Those small annual Backdoor Roth contributions I have made since 2012 have grown to be a significant amount of money. Of course I picked the right investments inside the Roth to make that happen.