Tuesday, November 3, 2015

To Roth or Not

One of my goals was to have $50,000 in my retail investing accounts by the end of the year.  I'm currently at $45,000.  Another goal was to have $150,000 in retirement.  We are currently at $146,600.  My 401k is almost maxed out for the year but I will likely get market appreciation for the remainder so it is likely that our retirement accounts would reach $150,000 even if we did nothing else this year.

So, going back to my goals, I should top off my retail account to get to $50,000.  However, I think I want to instead max out Roth's for Y and myself.  We are over the income limit this year but we can backdoor it.  We won't have enough to put $11,000 in our Roth's plus another $5000 in the retail accounts.  I have another $1000 scheduled for this year for the retail account.

What would you do?  I feel like we are behind in our retirement savings.

2 comments:

  1. I am a big Dave Ramsey fan. If I were you, I would totally put it in my Roth. You can't beat tax free growth!

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  2. Michelle, I'm leaning toward that option. Thanks for your input!

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