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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,858
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Roth 401K? Too good to be true?
I caught a brief segment on this. Bottom line is:
You pay tax upfront on your contributions as opposed to on the backside. So once the money is in your account it's tax free....tax free during growth...tax free at withdraw (after retirement). What am I missing here, is this not the holy grail??
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Cornpoppin' Pony Soldier |
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02-27-2006, 07:30 PM
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Detached Member
Join Date: May 2003
Location: southern California
Posts: 26,964
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Yeah, but there are limits on your income to contribute to those. I make too much.
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Hugh |
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02-27-2006, 07:56 PM
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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,858
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Quote:
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Cornpoppin' Pony Soldier |
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02-28-2006, 05:31 AM
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Registered
Join Date: Jul 2005
Location: Somerville, New Jersey
Posts: 484
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4k / year...as long as you are not contributing to regular ira as well
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-Matt 1985 Targa Last edited by mschuep; 02-28-2006 at 05:44 AM.. |
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02-28-2006, 05:41 AM
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Registered
Join Date: Jul 2005
Location: Somerville, New Jersey
Posts: 484
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You can withdraw money before retirement tax free too, as long as you don't take out more than you put in. i.e. you can't take out interest earned until retirement.
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-Matt 1985 Targa |
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02-28-2006, 05:43 AM
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Registered
Join Date: Jul 2001
Location: Huntington Beach, CA
Posts: 2,685
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Re: Roth 401K? Too good to be true?
Quote:
Hugh I am in the same boat haven't qualified for a IRA for the last 5 years, so I max the 401K, and dump as much into my deffered comp as possiable. Michael
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1984 Carrera Targa Sold to fellow Pelican 1973 911S Targa - Sold to fellow Pelican. |
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02-28-2006, 07:42 AM
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Registered
Join Date: Mar 2004
Location: Summerville, SC
Posts: 2,057
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Quote:
http://www.bls.gov/opub/cwc/cm20060221ar01p1.htm#exhibita |
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02-28-2006, 09:14 AM
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Registered
Join Date: Jul 2001
Location: Huntington Beach, CA
Posts: 2,685
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Quote:
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1984 Carrera Targa Sold to fellow Pelican 1973 911S Targa - Sold to fellow Pelican. |
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02-28-2006, 09:20 AM
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Registered
Join Date: Feb 2002
Location: Annapolis, Maryland
Posts: 1,360
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Forty years down the road Congress could always pass legislation to tax distributions from those accounts.
Sure they've made a promise. But when the bill comes due I think the politicians will be looking at taxing any and all pots of money.
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1981 Porsche 931 w/S1 engine & g31 transmission. Water-cooled intercooler |
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02-28-2006, 11:09 AM
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