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Can't use the roth at ACN? Also, look into backdoor roth
Do@explain -
Don't know much about roth
@A1, explain? basically if I hadn't have been on a single traveling project, I would be eligible for Roth IRA but because I was traveling to the same city for over a year, my expenses in client city became considered compensatory and now my AGI moves me out of eligibility for Roth IRA
Great question. I didn't even think of that and technically the same thing happened to me. I continued to put funds into my Roth IRA.
Backdoor roth from now on
A backdoor roth is where you put the money into a regular roth, then roll it over to a roth. Google it.
You should have compensatory measures at your project. Ask SM. On ours, when we hit the year mark, we travel less than 1/2 the month. Tuesday - Thursday only 3 of the 4 weeks to avoid being technically compensatory.
There's no income cap for the Roth 401k plan offered by ACN, compensatory shouldn't have an impact if you go that route.
What A5 said. Income level does not affect your ability to contribute to a 401k-sponsored Roth. Keep putting in the $$$$.
@A5 and A6, Roth IRA not Roth 401k
Then backdoor Roth. But why are you concerned when you can contribute to the ACN sponsored 401k Roth without any worries about income level? You can contribute up to 18k to a 401k Roth through ACN's plan whereas the private plan options only allow 5k (or thereabouts), no matter your income level, backdoor or straightforward.
Btw, a backdoor Roth is contributing to a traditional IRA through a broker like Fidelity, and then converting it to a Roth IRA. Your broker can walk you through the paperwork for this as it's pretty common. The limit, though, is around 5k.