{ "media_type": "text", "post_content": "What kind of 401k / IRA do y’all put your money into - Roth or Traditional?", "post_id": "59ed26abed8a8c0017c46780", "reply_count": 11, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

What kind of 401k / IRA do y’all put your money into - Roth or Traditional?

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No income limit for Roth. Income limit is for IRA. General rule - if you think your income taxes will be higher in retirement than now, use a Roth. Otherwise traditional. When in doubt, assuming you’re maxing the contribution, go for Roth (since you can socket away more money that way, as the dollar limit is the same, but Roth is with after tax money).

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There’s a income limit on Roth contributions, so 401k only for me. Although I did both earlier in my career.

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M2 are you talking about 401k Roth? Because normal Roth ira's most definitely have income limitations as well as 5500 max

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Max 401k for me. Max Roth IRA for me and spouse. Spouse has teacher retirement plan, forget how it works.

For your 401k, do you do Roth or pre-tax contributions? I wanted to get a sense of how everyone is allocating between the two

Roth helps if you start contributing early in your professional life. If you are in your 40s then stick to 401k.

Currently only investing in Roth 401K and maxing out IRA.

Both Roth

There are absolutely income restrictions on Roth.

I was referring to 401ks. Roth IRAs have a limit. Traditional IRAs effectively do too because the deduction phases out (non deductible accounts aren’t worth much unless you do the whole conversion thing which isn’t quite 100% kosher).

Thinking about doing back door Roth - converting traditional to Roth to circumvent income limit. Once you do the conversion, can you contribute to traditional IRA as well?

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