DH & I are over income limits to contribute to a Roth. However, based on what I have learned here and on BH, DH funded $6500 in a traditional IRA (MMA)and then converted it to a ROTH IRA (VGTSX) in 2013. DH did not have an existing IRA. The value is currently $6,079.
We did not fund the Roth in 2014, but are in the process of repeating the process for funding a 2015 Roth. My question is, is VGTSX a suitable choice for a ROTH. Our intent was to fund the IRA with an investment which had potential for growth and could grow tax free. I know there are no guarantees with investments, but is there a better investment choice within Vanguard for a Roth?
This is a very small portion of our overall investments. Stock 70, Bond 30
DH 401k $1.247 mil, Roth 6k
Me 401k $396k & IRA $232
CD 25k
Cash 75k
HSA 4k
Total 1.985 mil
As you can see, majority is in tax deferred, and I am trying to build svgs outside of tax deferred. So just want to get opinions if there are better options - or just continue with VGTSX. Thanks for your help.
We did not fund the Roth in 2014, but are in the process of repeating the process for funding a 2015 Roth. My question is, is VGTSX a suitable choice for a ROTH. Our intent was to fund the IRA with an investment which had potential for growth and could grow tax free. I know there are no guarantees with investments, but is there a better investment choice within Vanguard for a Roth?
This is a very small portion of our overall investments. Stock 70, Bond 30
DH 401k $1.247 mil, Roth 6k
Me 401k $396k & IRA $232
CD 25k
Cash 75k
HSA 4k
Total 1.985 mil
As you can see, majority is in tax deferred, and I am trying to build svgs outside of tax deferred. So just want to get opinions if there are better options - or just continue with VGTSX. Thanks for your help.