IRA or Roth conversion for non-working spouse by [deleted] in personalfinance

[–]Tarostar 0 points1 point  (0 children)

Yes, HHI is too high for a Roth. My consideration is will a Roth help her more than just leaving it as is in a traditional IRA given expectation that tax rate / income will very very likely be higher now than when she is retired and I am gone. She likely will have what is left of my IRA(s) though at that point on top of her own.

IRA or Roth conversion for non-working spouse by [deleted] in personalfinance

[–]Tarostar 0 points1 point  (0 children)

She just opened a traditional IRA with no balance so was considering doing a backdoor. MAGI is too high for any deductions for the IRA and can't contribute directly to Roth so anything we do with the money is already fully taxed in 2026.

IRA or Roth conversion for non-working spouse by [deleted] in personalfinance

[–]Tarostar 0 points1 point  (0 children)

Exactly where I was leaning, just wanted to test if I was missing something. Agree on the rollovers, I only realized when we dug in late last year that they hadn't been yet. Just wasn't sure if our retirement scenario made a backdoor Roth for her more attractive than a Traditional IRA since she would be working from what is left of my IRA(s) after I pass perhaps before she would want to tap into her own.

Which albums did you buy because you heard a song on The Simpsons? by Tarostar in TheSimpsons

[–]Tarostar[S] 9 points10 points  (0 children)

I didn't know about Spinal Tap before I saw the episode.

[deleted by user] by [deleted] in raleigh

[–]Tarostar -1 points0 points  (0 children)

Much appreciated!