Author Topic: Invest in Trad. IRA when over benefit income?  (Read 818 times)

wing117

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Invest in Trad. IRA when over benefit income?
« on: August 21, 2015, 07:54:10 AM »
Short question!

So I'm above the 61/71k income limit for the Traditional IRA to count for as a tax credit. Is there any benefit to continuing to place money into the Traditional IRA or should I focus my efforts on the Roth IRA instead? That is, is there any benefit of the Traditional IRA over the Roth IRA if I am not receiving the Traditional IRA's tax benefit?

Thanks!


MDM

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Re: Invest in Trad. IRA when over benefit income?
« Reply #1 on: August 21, 2015, 12:48:44 PM »
No.

Runge

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Re: Invest in Trad. IRA when over benefit income?
« Reply #2 on: August 21, 2015, 12:57:31 PM »
I'm in the same boat as you. Focus on contributing more towards other pre-tax accounts to lower your MAGI. If that's not possible, then just contribute to Roth IRA. The Trad IRA is only beneficial if you can get the deduction, if not then there is no benefit.

forummm

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Re: Invest in Trad. IRA when over benefit income?
« Reply #3 on: August 21, 2015, 01:22:48 PM »
Go Roth and prosper.