Comments on: Reader Question: Should I Have a Roth IRA? http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 12 Feb 2012 20:01:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: John http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-119294 John Sun, 07 Oct 2007 19:29:51 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-119294 Lost Opportunities (comment #9), If you are ineligible for Roth ased on limits, would you also not be eligible contributing to Traditional IRA. Am i missing something ? Lost Opportunities (comment #9),
If you are ineligible for Roth ased on limits, would you also not be eligible contributing to Traditional IRA. Am i missing something ?

]]> By: Chris http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-116824 Chris Sat, 07 Jul 2007 13:50:32 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-116824 The other alternative is the Roth 401(k), which many companies will be instituting in the next year. It allows people to put money into a Roth account without hitting the income limits. The other alternative is the Roth 401(k), which many companies will be instituting in the next year. It allows people to put money into a Roth account without hitting the income limits.

]]> By: thomas http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-116810 thomas Sat, 07 Jul 2007 00:26:56 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-116810 totally agree with the advice mentioned in the post. The one thing I would add is that with the Roth IRA (or traditional) you can invest in a number of different things - stocks, mutual funds, etc, as opposed to the 401k where you have limited options. With the Roth you also have the ability to withdraw your deposits without penalty or taxes in case of an emergency (although I'd recommend against this). totally agree with the advice mentioned in the post. The one thing I would add is that with the Roth IRA (or traditional) you can invest in a number of different things – stocks, mutual funds, etc, as opposed to the 401k where you have limited options.

With the Roth you also have the ability to withdraw your deposits without penalty or taxes in case of an emergency (although I’d recommend against this).

]]> By: NCN http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-115909 NCN Tue, 19 Jun 2007 16:03:10 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-115909 This is the best post I've read about this subject. I have a 403b and a Roth... but no match! So, I max out Roth first and then put as much as I can in 403b... NCN This is the best post I’ve read about this subject. I have a 403b and a Roth… but no match! So, I max out Roth first and then put as much as I can in 403b…
NCN

]]> By: Lost Opportunities http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-115293 Lost Opportunities Mon, 18 Jun 2007 15:46:04 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-115293 ntguru (comment #5), I'm in the same boat as you are. I am stuffing my traditional IRA and waiting for 2010. <a href="http://www.usatoday.com/money/perfi/columnist/block/2006-05-16-roth_x.htm" rel="nofollow">link</a> Use any extra money (e.g. tax deduction from contributing to traditional IRA) for other investments (stock market in my case). ntguru (comment #5),

I’m in the same boat as you are. I am stuffing my traditional IRA and waiting for 2010. link

Use any extra money (e.g. tax deduction from contributing to traditional IRA) for other investments (stock market in my case).

]]> By: ntguru http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-114643 ntguru Fri, 15 Jun 2007 20:08:56 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-114643 What is the recommendation for those who are fortunate enough to be ineligible for Roth contributions? What is the recommendation for those who are fortunate enough to be ineligible for Roth contributions?

]]> By: Anca http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-114628 Anca Fri, 15 Jun 2007 17:11:18 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-114628 I like the flexibility and diversity of having both, especially because it's so hard to know what my income/tax level will be when I retire. I feel like I have more control over my ROTH than my 401(K) because it's not tied to my job. I do what you suggested and I put 6% (of my pre-tax income) into the 401(K) to get the max matching, and the rest (9%) into the ROTH. I like the flexibility and diversity of having both, especially because it’s so hard to know what my income/tax level will be when I retire. I feel like I have more control over my ROTH than my 401(K) because it’s not tied to my job. I do what you suggested and I put 6% (of my pre-tax income) into the 401(K) to get the max matching, and the rest (9%) into the ROTH.

]]> By: Flexo http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-114626 Flexo Fri, 15 Jun 2007 16:34:50 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-114626 Bnrl: that's a good rule of thumb, but for a 23 year-old who may retire 40 years from now, one can only take a wild guess as far as tax rates. Bnrl: that’s a good rule of thumb, but for a 23 year-old who may retire 40 years from now, one can only take a wild guess as far as tax rates.

]]> By: broknowrchlatr http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-114622 broknowrchlatr Fri, 15 Jun 2007 16:25:09 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-114622 Wehne comparing vs a traditional ROTH, here is a simple checklist to see which you should choose. If both of the following are true, take the Tradtional IRA over a ROTH 1) I plan to have quite a bit less taxable income when I retire than I do now. 2) I think income tax rates will remain the same or lower when I retire. But, in general, the ROTH is nearly always the best option. Wehne comparing vs a traditional ROTH, here is a simple checklist to see which you should choose. If both of the following are true, take the Tradtional IRA over a ROTH
1) I plan to have quite a bit less taxable income when I retire than I do now.
2) I think income tax rates will remain the same or lower when I retire.

But, in general, the ROTH is nearly always the best option.

]]> By: klerg http://www.consumerismcommentary.com/reader-question-should-i-have-a-roth-ira/comment-page-1/#comment-114602 klerg Fri, 15 Jun 2007 13:53:27 +0000 http://www.consumerismcommentary.com/2007/06/15/reader-question-should-i-have-a-roth-ira/#comment-114602 I'm not a finacial professional either but I 100% agree with Flexo. A Roth IRA is an excellent way to save for retirement. I’m not a finacial professional either but I 100% agree with Flexo. A Roth IRA is an excellent way to save for retirement.

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