Hi,
I need some advice. My wife doesn't work, and I have a employer sponsered 401k, with the bulk of my capital in after tax investing. I'm almost 40, and have a high salary. I think I'll set up an IRA for the first time this year. I see two options
1) Do $8k in two Roth's for both me and my wife.
2) Do a traditional $4k for my wife
I'm leaning towards the $8k, so we can dump more in. I understand the Roth is with post tax dollars. Thoughts?
I need some advice. My wife doesn't work, and I have a employer sponsered 401k, with the bulk of my capital in after tax investing. I'm almost 40, and have a high salary. I think I'll set up an IRA for the first time this year. I see two options
1) Do $8k in two Roth's for both me and my wife.
2) Do a traditional $4k for my wife
I'm leaning towards the $8k, so we can dump more in. I understand the Roth is with post tax dollars. Thoughts?