What is a Backdoor Roth? Roth IRA’s are pretty cool. Money contributed into a Roth IRA will grow tax free and in retirement you will be able to withdraw the full amount including growth tax free, pretty sweet deal. To sweeten the deal even more, you can withdraw your contributions at any time penalty and tax free.
Hey Andre! I had contributed $6500 to my Traditional IRA and converted it into ROTH IRA. I gained some interested in my Traditional IRA (<$2) during the end of the month. This automatically got covered to ROTH IRA. Is this considered excess contribution ? Is there anything I'll have to do to withdraw excess ?
I thought you could exchange your mutual funds to those that are offered by your 401K plan and then get them transferred from Rollover IRA to the 401K without having to liquidate them. Wouldn't save any time but at least you will continue to be in the market just incase there are some wild swings while you were cashed out.
BTW, I noticed you were buying FPADX instead of your fav FZILX. Are you further diversifying your Intl allocation?
Hey Andre! I had contributed $6500 to my Traditional IRA and converted it into ROTH IRA. I gained some interested in my Traditional IRA (<$2) during the end of the month. This automatically got covered to ROTH IRA. Is this considered excess contribution ? Is there anything I'll have to do to withdraw excess ?
I thought you could exchange your mutual funds to those that are offered by your 401K plan and then get them transferred from Rollover IRA to the 401K without having to liquidate them. Wouldn't save any time but at least you will continue to be in the market just incase there are some wild swings while you were cashed out.
BTW, I noticed you were buying FPADX instead of your fav FZILX. Are you further diversifying your Intl allocation?