This does not apply if you have a 401K, right? I've always looked into IRA options, but with our income, we don't qualify for Roth and with employer's 401K, we can't deduct, so there's no point for us to have an IRA. I've also looked at the Backdoor Roth IRA… might be our only option.
9 comments
1st
Roth included ?
Can you explain in more detail how contributing now can help you save taxes now?
liking the shorts and the hair style 👍
You should have mentioned the rules that prevent contributions from being deductible
Wanna pay less tax by locking your money up for decades? then do this. You still gonna pay tax when you take that money out tho
Simply make $3000 more
This does not apply if you have a 401K, right? I've always looked into IRA options, but with our income, we don't qualify for Roth and with employer's 401K, we can't deduct, so there's no point for us to have an IRA. I've also looked at the Backdoor Roth IRA… might be our only option.
Giving a financial advice and saying “it’s not a financial advice”. That’s the irony of youtube…