What is your retirement number...and what do you do when you reach it?

[sv2007]

What do you mean that people are "locked out"? Are you referring to the contribution limit being low, because I certainly agree with that, but that doesn't mean you can't accumulate a decent amount.

My wife and I currently have just over $254,000 in our Roths. That's not a "tiny little Roth" by my measure.

There's an income requirement. I don't know the limits, but it is pretty low. Even with tIRA, I've been putting in post-tax money into it for years because there's some sort of limit there too (wife doesn't put $ into her IRA because of it).

[StormRichards]

There's an income requirement. I don't know the limits, but it is pretty low. Even with tIRA, I've been putting in post-tax money into it for years because there's some sort of limit there too (wife doesn't put $ into her IRA because of it).

Sigh. My assumption about your post was correct.

So you believe that "most people are locked out of the Roth pretty early" when the income limit is $118,000 for single and $186,000 for married filing jointly!

"Most people" where? In YOUR neighborhood? It is statements like the quote above that has several people on this forum believing you are here just to troll.

[LivingAlmostLarge]

Dear god what were you invested in? Thats some serious gains since 2005.

We invested in oil a lot.

[LivingAlmostLarge]

It is a high income to phase out of roth i'll start that a new thread.

[Nutria]

Sigh. My assumption about your post was correct.

Posts like this is why I put him on my ignore list.

[corn18]

Aren't you taxed on the transfer? If you are very high tax bracket; what was your rationale for do it?

We've been looking at converting since my retirement; but unfortunately, we've been making enough money during my 2-yr retirement to be in the high bracket. So never had a chance.

Negative. All the money I put into my TIRA's are post tax, so when I do the backdoor Roth, there is no tax. Same with my 401k mega backdoor Roth. I use my after tax 401k contributions then do an in service rollover to a Roth IRA. No tax. I already paid it going in. This makes sense for me since my income only allows after tax TIRA contributions.

[StormRichards]

Posts like this is why I put him on my ignore list.

That doesn't work because you see it anyway when someone quotes him.

[rennigade]

That doesn't work because you see it anyway when someone quotes him.

Its just a reminder of why he was added to the ignore list

[Nutria]

That doesn't work because you see it anyway when someone quotes him.

It works 99.44% of the time (partially because people don't quote him much in the threads I follow).

[StormRichards]

It works 99.44% of the time (partially because people don't quote him much in the threads I follow).

Can you provide a graph and the supporting data to back up your 99.44% claim? I don't want to follow your suggestion and end up disappointed with only an 80% or below success rate.

[FoolFromAZ]

they get a 6% match at 100% ? ... where do they work ?

I know you get that if you work for any of the top banks.

[Nutria]

Can you provide a graph and the supporting data to back up your 99.44% claim?

Don't you trust me??

I don't want to follow your suggestion and end up disappointed with only an 80% or below success rate.

The pain of disappointment makes you stronger.

[StormRichards]

Don't you trust me??

Disappointment makes you stronger.

You are only a Savings College Junior. Perhaps if you were a Senior or a Graduate I would trust you more.

Disappointment CAN make you stronger. It can also tear you down and discard you to the gutter.

[Nutria]

You are only a Savings College Junior. Perhaps if you were a Senior or a Graduate I would trust you more.

Disappointment CAN make you stronger. It can also tear you down and discard you to the gutter.

Be more like Nietzsche...

(Ignore the fact that he was a nut case who lived with his sister. )

[MonkeyMama]

I know you get that if you work for any of the top banks.

It's also common to get generous matches from small businesses. It's just going to depend on a lot of factors (employee mix, type of business, quality of tax advisor).