I just realized I’ll likely have a MAGI of over $124,000 this year and will have to reduce the amount I contribute to my Roth IRA. I don’t know exactly by how much and I’ve already contributed about $1,900 directly through my Roth IRA. Does anyone know if I can still do a backdoor Roth IRA for the remainder of the $6,000? Is there any way to avoid over-contributing to my Roth IRA by the amount I already put in there?

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I’m not an expert but I think you can withdraw $1900 and be okay.

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Yes withdraw before 7/15

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Maybe recharacterize everything now from Roth to Traditional IRA, contribute max $6k to T-IRA, and then once you know at the end of the year how much you could have contributed to Roth IRA, recharacterize that portion to Roth. Then, do backdoor Roth for the amount that remains in your T-IRA.

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Wouldn’t I be taxed on the earnings that I have while it’s in a traditional IRA? I thought that is why we immediately needed to transfer the funds from the traditional IRA to the Roth when doing the backdoor.

You can still contribute $6k to a Roth as long as you recharacterize the full amount and then convert it.

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Thanks I’ll look into it!

Can you increase HSA or 401k contributions? Saving more, ironically, might allow you to save more since it’d reduce AGI.

Unfortunately not this is after maxing out my 401k contributions and I’m not eligible for HSA contributions.

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Maybe a native question here,
If we leave 6 month worth or emergency fund and put the rest into investment (say 30%debt and 70%equity).
Isn't it very scary during market crash? (Your equity is basically untouchable unless you are calling it lose)

Yet still so many advices to put all in on VTI/VOO? How do these two thinkings reconcile?

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Can someone share some insight into Deloitte’s pension plan... % contribution and/ or match , vesting years , eligibility, etc

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Best place for buying/renting home (condo life) to work in downtown Toronto? Small family with one kid.

Currently maxed Roth 401k, Roth IRA, HSA, and ESPP at 23 YO, should I consider an after-tax conversion? I’ve read about back-door Roths but I’m still far below the income limit as an analyst. Definitely looking into early-ish retirement, should I just invest the rest in a regular brokerage account until I reach the income limit? Am I even allowed to do a conversion? Any advice is helpful :)

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Why do 403b have such I fees? I almost want to stop contributing all together or just minimum 6% to meet the match. Possibly just rely on the pension but what if it’s underfunded when I retire?

Today might be the last day where you can buy PUTs at relatively cheap price

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Ye dukh kahe nhi khatam hota 🥺.

Oracle shares going down ....
Oracle

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Does anyone know how does the supplemental income work for new CAs?

Anyone here who moved from India to Singapore in a VC/PE firm in the last year with new EP issued (not an internal transfer)?Currently doing growth investing in India with a T1 PE firm but finding it difficult to find firms open to issue a fresh EP - would love some guidance.

Are there any debt consolidation options for a professional family man with a decent credit score, who's let high interest credit card debt get out of hand? I get the mailers that entice with a low advertised rate, and then the offer comes back at something slightly less than what I am already paying. I am thinking something along the lines of a bank that I can talk to, and explain exactly where the money is going, not being apposed to a direct deposit to the card companies themselves.

Any chance Airbnb's $1B investment is for longer-term strategic growth/operations or is it purely meant to cover their losses and continued existence over the next few months?

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Is there an ETF bubble? We are all blindly putting money into index funds that I assume produce demand for large cap companies despite their performance.

Not sure how all this works in detail though.

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Want to sell Pharma at a loss (just increasing) and buy ICLN but it’s at 52-weeks high 🤔?
Any insight on the situation..

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Anyone invested in Matterport? Considering buying shares today - seems really interesting in the real estate space

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Calling all Loan Originators!!! I've been in the mortgage industry for 5 years now (3 years as a Realtor, 2 as a loan originator).

Last years rates, anyone could have done well. You didn't have to sell a mortgage, people just applied.

With the market where it is today, what are some of you doing to counter the "rates are too high" comment from buyers?

I've gone back to my SOI and have been getting some deals and referrals to keep me afloat but would love to hear some of your Best Practices.

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Do you have target sell prices for your coins or are you just hodling?

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Question, or advice. If you leave your job and have a 401k balance under 5k what is the best option for me to do? Rollover to an IRA, keep the funds where they are, or would I lose that money? TIA

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Do you still invest in your 401k and IRA or are you all in on cryptos?

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How/Why is compounded interest “magical”? Is there a calculator of if I invest X amount each year what my portfolio could look like in 20 years? Right now, I am contributing $80,000 annually in my liquid investments and maximizing my 401k contribution.

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My base location is SAn Francisco, but I have not lived a single day in California this year (not planning on being there this year either). Am I eligible to get a refund on all my California taxes this year?

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Just looked at my Amazon order history and man does that offer a glimpse of how life has changed in the past two months, talk about a change in priorities.

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Which one is better?

Infosys 13L + 1L joining bonus (11.7 is fixed) (location: Bangalore) in Development role

CTS 12.45 L (12L is fixed) (location: Bangalore) in Development role

Amazon 14L + 6 L joining bonus (location: Chennai) in Support role

I'm currently in support role and main reason for switch is to work in dev. Please suggest which offer i should take.

Current CTC 4.37 L, YOE 3.2

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Folks , I’m considering kicking off the job application process again. I feel like I can’t reach my potential as a PM at a consulting firm. For one, we have no access to user data, usually our users are clients, and we rarely get to interface with them. As a result, I don’t have any experience in A/B testing, or proper user experience research. Is this an extremely important skill? Should I look to jump sooner than later ? There are other skills I get to aggressively build here, however

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Hello Fishes,

I am looking for a job change. Could you please refer to me in your respective organization.

Experience: 6+ years
Skills : C#, . Net core, micro service, MVC, Web Api, Angular, SQL Server, Azure, Cosmos DB, Azure Storage, Azure Service Bus, Service Fabric, Azure Data Factory, Azure Data Bricks, Pyspark

Also need likes to activate my DM option.

Thank You

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Hi Fishes,

Looking for a job opportunity in HR related roles.

I have 1 Year 10 Months experience in a security related support team.

Current CTC : 6.5 L

Reques you to please suggest if there are any referrals.

NY folks. Where is a nice play to buy a home that's affordable, easy commute to NYC? I hear NJ is nice but not sure about which areas to look into. Any ideas? Considering Connecticut and LI too

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Hey fishes. Would appreciate some guidance on the ad job scene in India.

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"And then, he made his own marathon. For gay people."

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I got the job at META 😭 I’m so happy!

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Hi fish, any one knows. What is process of changing project in publicis sapient?

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Has anyone been to the IFS “Leadership Milestone Experience”? How is it? Worth attending?

I’m looking to get into the banking world. I have 3 yoe in FinTech as an analyst and a manager. I’m interested in becoming an analyst at JP Morgan or Raymond James. Can anyone share what the WLB would be as an analyst? Or any suggestions on other companies I’m not thinking of? Located in Tampa, FL.

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I secretly witnessed a co-worker spit on another co-worker in office. I am in office 5 days a week but stayed back to complete a few tasks before the weekend when I heard some commotion walked by and saw it. Do I report or keep quiet?

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I took BEC and am waiting for my score to see if I passed or not - if not should I sit for it again or start studying for FAR? I paid for FAR already so I need to take it by August. Not sure what the best strategy would be.

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Accenture India Employees - (1) How much does job location matter in getting good projects for a fresher(ASE- Lvl 12) ?

I am currently in Entry Level Pool-Bangalore and will be 'Soft Locked' to Bench in a month's time. I wish to change my job location to either Indore in MP(top priority) or to Pune(MH).

(2) Should I wait till I get a project in Bangalore and then change location only if WFH gets over (if that is possible) or change it right now ?
(3) Any idea till when WFH will last? Thanks 🙏

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Hi everyone,
I am a creative person, designer. I have a btech background but my salary is still low and very less exposure in current company. So i wanted to switch in some time. I wanted to explore the opportunities but I don't have any portfolio to show.
Can anyone help me??

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Heya everyone. Would appreciate some help! ✨
#activelylooking

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Partner has an idea you hate. Wdyd?

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Looking to leave a toxic office environment behind. Please let me unlock DM's!!

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Additional Posts in Personal Investment Chatter

Has anyone setup custodian accounts for their kids? Are they worth it? Who do you set it up with?

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Just started at a new company and can’t contribute to 401k this year. Am I eligible to contribute to a deductible ira or no because I was participating to 401k at my previous employer this year already? If anyone knows good CPA to answer this let me know …

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Is this a good time to buy bitcoin? Where do you buy bitcoin from?

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How are you investing your money right now?

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Is right now a good time to rebalance my 401k. Want to move everything out of target funds to index funds. But worried it’s not a good time

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I (thankfully) have no debts. No student loans, no car / mortgage, etc. I pay my cc bill every month and already have a pretty high credit limit. My score is ~750 but I can’t get it any higher. Tips?

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Why is MRNA going down?

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Should I pay off my student loans next year or save my money? I’m hoping to do a career change and want to be as debt free as possible

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I bought in at the high earlier this week, thinking of double down. Planning to hold long term with SLV as a thematic bet on silver.
Would appreciate any insight on this.

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Any recommendations on Home owners insurance..tried to combine it with auto but coming as costly, I am based out of Arizona if that helps

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I’m not certain about who will win the election, but unless it’s a landslide, I am concerned that it could take weeks and/or months to determine an outcome. In your opinions, is this a legitimate concern and if so, what would the impact be on the markets?

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Base salary is $220k and I’m contributing 10% to 401k. Pwc also contributes 6% to my wealth builder. So I’m savings 16%, currently 35k a year towards retirement.
Current balance is $150k and I’m 31. At 4% growth that’s $2.3m by retirement.

Is this enough to live a basic lifestyle with an owned house in NY in retirement?

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Trying to choose 2 funds to start my ROTH IRA off with. Looking at VOO, VTI, VTV and QQQ. Thoughts?

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Still playing catch up for my age, but happy with this year’s gains.

It’s not about being better than the guy next to you, it’s about being better than you were yesterday.

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DM me if interested in referral for Chase Sapphire Preferred 100K bonus points offer

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Thoughts on Fundrise?

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