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sschullo

Q1 YTD Return

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My IRA is a Roth. I am not eligible for a Traditional IRA.

My 401k is a Traditional by choice. 

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I was not eligible either for the traditional IRA, and the 403b or the 457b Roth IRA did not exist when I was working. I would have used any of the Roth IRAs (401k, 403b or 457b) if it were available. All of my Roth is with after-tax dollars. What I liked about the Roth was the fact that I could invest directly in Vanguard because my 403(b) did not have Vanguard. 

Our LAUSD committee has discussed at length about the making the Roth IRA available in our Award Winning 457(b) but payroll has claimed it does not have the resources in expertise or the technology to make it available. 

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I think we may be mixing terms, specifically Roth/Traditional with account types (IRA, 457b, 403b, etc).

30 minutes ago, sschullo said:

I was not eligible either for the traditional IRA

I would have assumed that with a teacher's salary you would have been eligible for a Traditional IRA.

For instance, the 2018 tax code says that a couple filing jointly (who has access to a retirement plan at work) can only claim a partial deduction from a Traditional IRA if their Modified Adjusted Gross Income is greater than 101k, but if it exceeds 121k then they can't claim the deduction at all. I'm guessing most teachers don't have to worry about hitting either limit.

30 minutes ago, sschullo said:

All of my Roth is with after-tax dollars.

Yup, as it must be...I'm guessing you meant Roth IRA.

30 minutes ago, sschullo said:

What I liked about the Roth was the fact that I could invest directly in Vanguard because my 403(b) did not have Vanguard. 

Same could be said for a Traditional IRA though.

30 minutes ago, sschullo said:

Our LAUSD committee has discussed at length about the making the Roth IRA available in our Award Winning 457(b) but payroll has claimed it does not have the resources in expertise or the technology to make it available. 

I'm guessing you meant making a Roth 457b available? I wouldn't have a strong opinion either way, but I would have a strong opinion about guaranteeing a Traditional option is available.

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Yes, it's the Roth IRA. 

When the Roth IRA first came out, again back in the dark ages of the 1990s, both my late hubby and I were very excited about this new plan. The idea of paying taxes first and none after that was compelling. Our accounts were growing fast in the late 90s. Dan was so excited he transferred some money from his 403(b), paid the taxes, and into a Roth IRA. 

I never transferred any 403b money into a Roth IRA. I was happy with what I was doing just putting in the max of whatever it was in those days ($4000, $4500, $5000 etc). I could not afford to max out of my 403(b) with contributing to both 403b and the Roth IRA for ten years from 1998 to 2008 when I retired. 

Yeah, the 457(b) Roth. 

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