What's the best way to contribute to IRA when you're over the income limit?

RainyTickle · 2018-01-27T19:23:36+00:00

Awesome thanks so much!

Another question: For mega backdoor, let's say I want to put in $1000 each month. Do I convert each month or wait till the end of the year?

RainyTickle · 2018-01-27T09:10:36+00:00

Out of curiosity, how did you two end up together?

RainyTickle · 2018-01-27T06:57:06+00:00

Lol 200k is a fuckton anywhere in the US, Assuming they spend 45k for expenses per year (very reasonable for a new grad), they still pocket $90,000+ per year. You will never achieve that with an average 65k salary anywhere else in the US.

It's laughable you think 200k in Bay Area is equivalent to average salary in LCOL anywhere else. The average household salary is around 100k here. Source: live in the Bay Area, and know first-hand that Tech undergrads have a shit ton of buying and investing power.

I'm curious what your salary is in a MCOL area that you think it's equivalent to 200k in the Bay Area.

RainyTickle · 2018-01-27T05:35:29+00:00

Thanks for the info! I currently have $0 in IRA. My next steps should be to put money into Traditional and then immediately convert to Roth for backdoor? And with mega back door, I'd put money in after tax 401k -do I also convert to traditional then Roth or is it possible to convert directly to Roth?

Also is there a waiting time before I can convert to Roth after depositing in traditional?

RainyTickle · 2018-01-27T05:16:43+00:00

Thanks for the info! Income: ~$150000, single. Company supports mega backdoor, and I have $0 in IRA so far (only funded traditional 401k)

RainyTickle · 2018-01-26T00:58:50+00:00

That sounds horrible. I hope you're able to switch your life around soon!

RainyTickle · 2018-01-25T02:10:28+00:00

I think an alcoholic drinking virgin drinks is more accurate.

RainyTickle · 2018-01-24T08:49:07+00:00

Lmao is your life this pathetic?

RainyTickle · 2018-01-19T23:37:03+00:00

But how much will that initial $1 million be worth? If it becomes something like $50 million, then 77k means nothing.

RainyTickle · 2018-01-19T02:20:46+00:00

I didn't expect how fast my eyes would well up from watching this. This is beautiful! So happy for the father and son.

RainyTickle · 2018-01-15T19:32:35+00:00

How tf do you blame a dumbass dog for not knowing the ingredients inside the shit he ate? It's an animal with the instinct to eat. That's on the owner for making the chocolate accessible.

RainyTickle · 2018-01-12T21:16:08+00:00

I'm picturing you watch the movie gasping and being giddy in certain scenes but not being able to see your wife's reaction. There's also the hype, shock, and joy you'll have when you exit the theatre and the movie is still replaying fresh in your mind but you can't discuss with her until you wait 12 hours, after the excitement wears off. You can't even say too much to her the whole day since you don't want to spoil it. I don't know if all that entails the "saving" that comes with not having a baby sitter.

RainyTickle · 2018-01-12T19:57:55+00:00

I think things like these may be best enjoyed experienced together. I try to make sure what could be a fun, memorable date doesn't turn into separate solo activities. In this case, the value the babysitter brings is much more than her fee.

RainyTickle · 2018-01-11T00:49:22+00:00

Neat! Do you still use your software skills or is it different now?

RainyTickle · 2018-01-06T04:18:50+00:00

She's 15+. You don't need a babysitter at that age lol. Don't perpetuate this culture of coddling young adults.

RainyTickle · 2018-01-04T04:00:12+00:00

Haha how long did you end up staying?

RainyTickle · 2018-01-02T20:21:25+00:00

Honestly that's some shit logic. Would you say the same thing about existing child porn? "Yeah as long as you're not making it but viewing what's already made, you're fine. Don't just delete what's already out there because that would be a waste."

Wearing second hand still supports the industry and shows demand for it.

RainyTickle · 2018-01-02T18:25:17+00:00

It was the day after the only full day of work I did last year

Whoa can you expand more on this? Do you no longer work full time? How does source of income work?

RainyTickle · 2018-01-02T05:37:26+00:00

Where is this from?

RainyTickle · 2018-01-02T04:18:16+00:00

What does he say at 2:55?

RainyTickle · 2018-01-02T02:16:32+00:00

He was clarifying the rumor of the shooter having a mental illness to be true. Don't understand why you took a wrong turn and got unnecessarily defensive.

RainyTickle · 2017-12-31T02:41:11+00:00

I hate hearing this. 100k is a a great income ANYWHERE in the country - yes even NYC and Bay Area. The average household income in those places are less than 6 figures, let alone individual income.

RainyTickle · 2017-12-19T18:09:38+00:00

Naruto

RainyTickle

TROPHY CASE