NinjaPigeon
Recycles dryer sheets
- Joined
- Jan 8, 2006
- Messages
- 331
I'm starting a new job in January at a small company that doesn't allow enrollment into the 401k plan for the first year. At my salary level ($175k), I am not eligible for a Roth IRA, so I've been doing a backdoor Roth for the past few years.
If I go with a traditional IRA next year in lieu of a 401k, that complicates doing a backdoor Roth because the calculation is based on the total value of all IRA holdings. So do I have to choose between either doing a maxed deductible IRA and a Roth contribution? Or are there other strategies that might work better?
Do any of you have a similar situation? If so, what did you do to maximize your retirement savings?
If I go with a traditional IRA next year in lieu of a 401k, that complicates doing a backdoor Roth because the calculation is based on the total value of all IRA holdings. So do I have to choose between either doing a maxed deductible IRA and a Roth contribution? Or are there other strategies that might work better?
Do any of you have a similar situation? If so, what did you do to maximize your retirement savings?