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now i just have to figure out if i should do Roth or traditional IRA.
Are you able to deduct your contributions? Did you look at the link I posted earlier? If no, the choice becomes very easy. Even yes, there is more to consider. However, IMO, it is a great idea to have both types of monies. You already have a traditional 401k.
Are you able to deduct your contributions? Did you look at the link I posted earlier? If no, the choice becomes very easy. Even yes, there is more to consider. However, IMO, it is a great idea to have both types of monies. You already have a traditional 401k.
this is where i get a bit confused. DH and I file together and combined we do make more than 123k. so based on that there is no deduction.
is it possible for me to even do a Roth based on what DH and I make?
Is your AGI below 193k? If yes, you can make direct contributions to Roth.
If you cannot make direct Roth contributions, you can still make indirect contributions. You contribute to a traditional, then immediately convert to Roth.
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