early_retirement_or_bust
Dryer sheet aficionado
- Joined
- Oct 7, 2015
- Messages
- 33
Hi guys, I am really lost on this...I've tried doing the research, and I talked to my roboinvestor (Wealthfront), and I am done with them. I don't feel as though they have the insight/experience to guide me through retirement...they sound as young/inexperienced as me every time I get on the phone with them.
Here are my concerns:
1) I believe I want to do a Roth IRA. I thought it would make sense to pay upfront now than later on down the line when tax rates are higher. Is this sound thinking? Also, I anticipate making way more than the $50k I currently make when I near retirement.
2) Only my post-tax dollars are going toward this IRA anyway...my only pre-tax dollars are in my 401(k).
3) The tax benefit for my income taxes only helps me out with a few bucks...I don't notice any substantial difference.
4) Wealthfront suggested I get a tax advisor, but this is not in my budget at all. Is there any way I could calculate the tax I would pay if I converted to a Roth? We're only talking about a mere $9k here (once I rollover another account with it).
Thanks for any knowledge you all can impart. I'm just frustrated because now I'm serious about my retirement and I can't afford to just make any choice that's best for me (what Wealthfront advised) when I am not knowledgeable enough yet to make the best choices in general.
Here are my concerns:
1) I believe I want to do a Roth IRA. I thought it would make sense to pay upfront now than later on down the line when tax rates are higher. Is this sound thinking? Also, I anticipate making way more than the $50k I currently make when I near retirement.
2) Only my post-tax dollars are going toward this IRA anyway...my only pre-tax dollars are in my 401(k).
3) The tax benefit for my income taxes only helps me out with a few bucks...I don't notice any substantial difference.
4) Wealthfront suggested I get a tax advisor, but this is not in my budget at all. Is there any way I could calculate the tax I would pay if I converted to a Roth? We're only talking about a mere $9k here (once I rollover another account with it).
Thanks for any knowledge you all can impart. I'm just frustrated because now I'm serious about my retirement and I can't afford to just make any choice that's best for me (what Wealthfront advised) when I am not knowledgeable enough yet to make the best choices in general.
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