Recent content by dadoftwo

Well, I have about 50k in my original Roth. It's in an optionsexpress account because I used to spend hours studying and trading options. But I just don't have the time now with 2 kids and a busy job and I don't want to trade options or stocks unless I'm on top of what I'm trading. So I'm gonna...

Sorry not sure how this thread got so confused. Probably cause I don't know my wife's history. As it turns out, she had no prior TIRA. I recently put $5,500 into a TIRA with the intention to immediately transfer into ROTH. I waited and now got $5,508 in the TIRA. So my plan is to put all into...

Income is too high for deductible TIRA. We both have retirement plans at work. She has a 401k and I have a TSA that we max. I also have a pension plan or what my work calls a supplemental plan B that they put in 10% but I also add 10% to after tax money. I wanted to execute back door Roth iris...

I don't but gosh darn it my wife has a small traditional Ira from years ago. I need to check and see how much is in there. I had forgotten about that!

I got the idea about backdoor Roth here (awesome, thanks) and executed it for myself fine. My wife, I made an ooops. I funded the Ira with 5500 but then had a family emergency and forgot about it. 2 weeks later and I now have 5503.54 in the Ira. So do I just transfer 5500 into the Roth and...

Post my current financial situation and then seek advice on what tweaks or moves should be made, if any? Funny thing is I just sort of muddle through and for all I know, I could be making a big mistake somewhere.

Any advice for someone who isn't that savvy? Just want solid advice for the common folk. The basic dos and don't that to beyond the obvious stuff (max out 401k, etc). Thanks for any suggestions and recommendation in advance.

Dumb question time, I have a small traditional Ira from a long time ago. I never converted to a Roth. It's okay to do the backdoor Roth with a separate organization and leave the other Ira alone (not convert) right?

Yeah that's another decision point I need to make. It's only a small loss we take on the rental, was good before for tax write off but now it seems we either need to rent for break even or small profit or sell ASAP.

Wow, had a busy day at work, what a great surprise to find all this great advice. Wife and 2 kids live in Hawaii. Pretty modest living because food, housing and private school takes a big chunk of our earnings. We're not financially wise people, so I have lots to research now! I'm hoping to...

I recently got promoted and now with my spouses income we make close to 200k per year. Leaned that our small loss on rental is no longer a tax write off. We can no longer invest in our Roth IRAs. Can someone point me in the right direction where I should be researching investment options that...