Wife just got a job- IRA question

[akfodysvn]

Well my wife is still in dental hygiene school, but has just been offered a job for when she graduates in May. It's a pretty good gig at $32/hr and he is willing to match 3% into a simple IRA for her.

My question is if she does her 3% contribution in a simple IRA can we still contribute to a separate Roth IRA or are the contributions to a Roth tied in to whatever is put into the simple IRA?

I would love to be able to have her simple IRA completely separate so that we can contribute the max of $5k in another Roth IRA. Maybe this is a newb question but I have only had a TSP account from the service.

[SS Junk]

$32/hour not baller enough for dfwmustangs.net therefore question is null and void.

[TENGRAM]

pics?

[akfodysvn]

yeah the hourly rate didn't really need to go in there, dunno what I was thinking about w/ the status on the board. Would edit it out, but I was proud of her and let it sneak in. She's had pics up on the other board, you're more than welcome to hunt them down.

[DriveWayBuilt]

yeah the hourly rate didn't really need to go in there, dunno what I was thinking about w/ the status on the board. Would edit it out, but I was proud of her and let it sneak in. She's had pics up on the other board, you're more than welcome to hunt them down.

You should be proud of her! Congrats. Sorry cant help you with anything about IRA's. We still don't believe in banks and get paid cash.

[Roscoe]

yeah the hourly rate didn't really need to go in there, dunno what I was thinking about w/ the status on the board. Would edit it out, but I was proud of her and let it sneak in. She's had pics up on the other board, you're more than welcome to hunt them down.

Too much effort.

Go Jayhawks.

[akfodysvn]

Too much effort.

Go Jayhawks.

Maybe so, but don't want to come off as a snob. Hope Ku is able to make a nice run this year. Glad you're familiar with Lawrence!

[Roscoe]

Glad you're familiar with Lawrence!

I'm not. I've been there 4 times in the past 6 months and hope I never have to go back... I'd rather spend my time in KC.

[2011GT]

How many years of schooling does that take?

[GrayStangGT]

I don't know what changes when you are married but as an individual you are limited to 5k total between Roth or Regular. I have both and wait to see what my taxes look like to decide which one I want to contribute to.

[GE]

You're forgetting one of the key components to the equation. How much you make.

[prostock1]

Baller

$32/hour .

Fuck....I remeber those days......


Oh well, I may not have cash I use to, but, I don't have the stress or Bullshit either.....

[akfodysvn]

I'm not. I've been there 4 times in the past 6 months and hope I never have to go back... I'd rather spend my time in KC.

I guess it depends on what you're into, but Lawrence is hands down a better place to live.

How many years of schooling does that take?

It is her second degree but they are 2 year programs or some are 4. She already had an undergrad so it would have only been 2 no matter where she went.

I don't know what changes when you are married but as an individual you are limited to 5k total between Roth or Regular. I have both and wait to see what my taxes look like to decide which one I want to contribute to.

thanks.that's what I had heard. Wouldn't the Roth always be the better option due to the tax advantage? I will max out my Roth prior to anything else unless it's company matched

[akfodysvn]

You're forgetting one of the key components to the equation. How much you make.

Sorry we are well below the 179k max joint income

[slow99]

I guess it depends on what you're into, but Lawrence is hands down a better place to live.

It is her second degree but they are 2 year programs or some are 4. She already had an undergrad so it would have only been 2 no matter where she went.

thanks.that's what I had heard. Wouldn't the Roth always be the better option due to the tax advantage? I will max out my Roth prior to anything else unless it's company matched

There are lower income limits to a roth. Genearally speaking, yes, roth is more advantageous if you believe you will be in a higher tax bracket in the future than now. Roth contributions don't lower your agi. Also depends on whether you're covered/contributing to an employee sponsored program.