I became ill during the summer last year, and I wasn't able to return to my job. Now recovered and seeking to re-enter the workforce. No debt, some liquid savings (20K+), some retirement (100K+) and a small Roth (10K+)
In filing 2014, I'm unsure whether to contribute to Roth, IRA or neither. When I was employed, the plan was to fund the IRA (traditional) from my cash which had started to build up quickly. The benefit of the IRA contribution would more than double my refund, which could go back into savings. Or I could put it in the Roth, as I don't anticipate needing it before I turn 59 1/2.
While I'm hopeful in securing employment, I'm uncertain and feeling hesitant. My indecision has delayed my tax filing.
Any suggestions are much appreciated. Thanks!