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Tag: backdoor roth conversion

May 25, 2021By Paula Pant

#318: Ask Paula – How to Think About Finances at the 30,000-Foot Level

Kim is newly divorced and celebrating the freedom to make her own financial decisions. She’s struggling to make a living — also as a new realtor — and wants to get started with real estate…but how can she do that on limited funds?

Kim also wants to know: should she move her funds from an actively managed Fidelity IRA to a Vanguard Roth IRA?

Chaz is 22 and has $2,100 – $2,500 left each month to put toward savings. Where should he keep this money if he’d like to move out-of-state in the near future?

Joe is a new real estate agent and he’s looking for ways to save. Is opening a SEP IRA a good account when you’re no longer a W2 employee?

Grace has a similar concern: she’s a tutor, but she’s paid as a contractor. Should she forget about her Vanguard brokerage account and open a SEP IRA or Solo 401k?

Anonymous just got a raise, and while awesome, it might push her income to a level that prohibits her from making full Roth IRA contributions. Should she make a partial contribution this year, or start adding money to a Traditional IRA to do a backdoor conversion?

My friend and former financial planner, Joe Saul-Sehy, joins me to tackle these questions. Let’s dive in!

Keep reading...

November 2, 2018By Paula Pant

#159: Ask Paula – I Have Three Kids and I’m Hoping for Financial Independence

Should a 36-year-old father of three invest primarily in Traditional or Roth retirement accounts? Should Rose, a grandmother of four, open a Vanguard account for each of her grandchildren?

Should Nancy, who lives overseas and is the sole breadwinner in her family, invest in a Traditional or Roth TSP?

Should Scott’s wife rollover her 403(b) from her former employer into an IRA?

Should Patrick, age 35, cancel his life insurance plan?

Former financial planner Joe Saul-Sehy and I answer these five questions in today’s episode.

Keep reading...

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Afford Anything

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