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gooner · 10-31-2007, 08:25 PM

Here is my dilemna: I make the maximum legal contributions to my 401k, I earn too much to open a Roth IRA, and therefore would not be able to deduct contributions to a Traditional IRA either. What other retirement investments are a good option for me?<br />

dotru · 10-31-2007, 08:25 PM

Make non deductible contributions to a regular IRA first.
Get a small no load variable annuity second.
Third, invest in stocks or mutual funds and pay taxes along the way.
Last, become an angel investor or open a business.

ermak · 10-31-2007, 08:25 PM

There is some hope for higher income bracket. Normally in this case not much can be done, but because of recent legislation that everybody Will be able to convert their IRAs to ROTH IRA in 2010 regardless of their income!

So you can contribute to non-deductible Traditional IRA from today and then convert it into ROTH IRA in 2010. Of course you have to pay tax on your your earnings (not contribution which you already paid) accumulated till that time.

This is the best chance for high income earner to get into ROTH IRA in 2010!

Risk: If congress changes the law related to this again, you have to reanalyze the situation.

Dani_Garcia · 10-31-2007, 08:25 PM

Log on to Fidelity and talk to a rep...get the info on a brokerage account....invest in mainly " dividend paying" stocks, Reits, trusts.... and tax free municipal bonds....
Your returns won't be 13-15%, more in the neighborhood of 8-11%. ( Better than cd's or the bank)
You will still end up with some " taxable" income, but paying taxes means you are making money....that's a good thing, right?
Fidelity usually doesn't har-sell, so give it a shot ...at least request pertinent info you can read any old time.

10-31-2007, 08:25 PM	#1 (permalink)
gooner Piggy Bank Join Date: Jul 2006 Posts: 75 Rep Power: 3	Investment Options other than 401K, Roth IRA and Traditional IRA? Here is my dilemna: I make the maximum legal contributions to my 401k, I earn too much to open a Roth IRA, and therefore would not be able to deduct contributions to a Traditional IRA either. What other retirement investments are a good option for me?<br />

10-31-2007, 08:25 PM	#2 (permalink)
dotru Greenhorn Join Date: Jul 2006 Posts: 16 Rep Power: 0	Investment Options other than 401K, Roth IRA and Traditional IRA? Make non deductible contributions to a regular IRA first. Get a small no load variable annuity second. Third, invest in stocks or mutual funds and pay taxes along the way. Last, become an angel investor or open a business.

10-31-2007, 08:25 PM	#3 (permalink)
ermak Greenhorn Join Date: Jul 2006 Posts: 20 Rep Power: 3	Investment Options other than 401K, Roth IRA and Traditional IRA? There is some hope for higher income bracket. Normally in this case not much can be done, but because of recent legislation that everybody Will be able to convert their IRAs to ROTH IRA in 2010 regardless of their income! So you can contribute to non-deductible Traditional IRA from today and then convert it into ROTH IRA in 2010. Of course you have to pay tax on your your earnings (not contribution which you already paid) accumulated till that time. This is the best chance for high income earner to get into ROTH IRA in 2010! Risk: If congress changes the law related to this again, you have to reanalyze the situation.

10-31-2007, 08:25 PM	#4 (permalink)
Dani_Garcia Greenhorn Join Date: Jul 2006 Posts: 21 Rep Power: 3	Investment Options other than 401K, Roth IRA and Traditional IRA? Log on to Fidelity and talk to a rep...get the info on a brokerage account....invest in mainly " dividend paying" stocks, Reits, trusts.... and tax free municipal bonds.... Your returns won't be 13-15%, more in the neighborhood of 8-11%. ( Better than cd's or the bank) You will still end up with some " taxable" income, but paying taxes means you are making money....that's a good thing, right? Fidelity usually doesn't har-sell, so give it a shot ...at least request pertinent info you can read any old time.

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