I’ve been putting money into traditional IRA from my paycheck (post-tax). How does it help with my taxes since I’ve already been taxed on it? Do I get it back when I file my return?

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If you make under $200K, claim the contribution on your taxes to get a refund.

If you make over $200K, then you need to do a backdoor conversion if you want any tax benefit.

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Non deductible traditional IRA = free Roth IRA conversion

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Hi Fishers,

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Additional Posts in Personal Investment Chatter

What are some best long term stocks with high dividend/share to hold?

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Any idea what is Hypothetical tax?

This is probably a dumb question 😅 I know people say to increase your withholdings to avoid getting a refund on your tax return.. but isn’t that lying? Can you get in trouble for that / has HR called any of you out?

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Do you recommending maxing my 401k at 19,500 or contributing enough for full employer match and investing rest in VOO / VTI etc?

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Want to genuinely thank the kind soul who posted here about moving their 401k to money market. Got me thinking; ended up moving ~50% portfolio out of the market (cont’d)

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My company only offers a high deductible with FSA which I opted into, can I open a HSA on my own? If yes which company do you recommend ?

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Single 26(F) Charlotte Area
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- $30K in 401k and $7500 in Brokerage
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Monthly Expenses
- Car and Student Loans $620 ($400 car and $220 Student)
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- Gas $100
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- Food $500
- Hair $50
- Spotify, Random Shopping, Amazon Sub ~$100

How can I optimize my savings/investing every month? I want to maintain investing and save for a home.

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