First time poster trying to determine best investment strategies for fiancee & myself post-marriage. We will be married in July of 2018 and our combined salaries are going to make us ineligible to contribute to a Roth IRA. We both have an emergency fund as well as a shared savings account for a down payment (looking to buy in 2-3 years). Finally, we both max out our 401k & plan to file taxes jointly. I have a Roth IRA that currently is at 55k and I am wondering how best to continue investing. For 2018, I estimate we will have 35-40k leftover to invest outside of our monthly budget, emergency fund, savings (down payment), & 401k. Barring unforeseen changes in employment, I imagine that amount would be consistent for the next few years. I am curious which of the following options seems best, or if others have alternative ideas:
A: Continue to fund Roth IRA by using the backdoor Roth IRA. I am not clear if there are additional taxes we would pay outside of those attached to our income bracket.
B: Move Roth IRA into a new traditional IRA and contribute to this moving forward.
C: Keep two separate accounts:
- Roth IRA: 55k which won't have additional contributions
- Traditional IRA: Fund with the additional money referenced above.
I appreciate any advice! (This also was posted in r/personalfinance)
Submitted April 21, 2018 at 02:39PM by Comprehensive_Tone https://ift.tt/2vyB3or
