http://frugalbabe.com/2008/01/02/a-new-year-a-clean-slate/ A rich life without a lot of money Sun, 20 May 2012 21:50:00 +0000 hourly 1 http://frugalbabe.com/2008/01/02/a-new-year-a-clean-slate/#comment-17020 FrugalBabe Wed, 02 Jan 2008 20:18:52 +0000 http://frugalbabe.com/2008/01/02/a-new-year-a-clean-slate/#comment-17020 Hi CalGirlFinanc. Until last year, we both had traditional IRAs. I still have mine, but I've stopped putting money into it, and instead I'm contributing to the Roth that I set up last spring. Eventually we want to stop contributing to my husband's traditional IRA and open a roth for him aswell. The reason we didn't just switch both of us to Roths is the that we're still somewhat dependant on the tax deduction we get from the traditional IRAs. Our thought was to gradually wean ourselves off of it by opening one Roth first, and then another in a couple years. As for which one we did first, it was pretty much a coin toss, since all of our assets are joint and we don't have seperate money. Hi CalGirlFinanc. Until last year, we both had traditional IRAs. I still have mine, but I’ve stopped putting money into it, and instead I’m contributing to the Roth that I set up last spring. Eventually we want to stop contributing to my husband’s traditional IRA and open a roth for him aswell. The reason we didn’t just switch both of us to Roths is the that we’re still somewhat dependant on the tax deduction we get from the traditional IRAs. Our thought was to gradually wean ourselves off of it by opening one Roth first, and then another in a couple years. As for which one we did first, it was pretty much a coin toss, since all of our assets are joint and we don’t have seperate money.

]]> http://frugalbabe.com/2008/01/02/a-new-year-a-clean-slate/#comment-17019 calgirlfinance Wed, 02 Jan 2008 19:36:23 +0000 http://frugalbabe.com/2008/01/02/a-new-year-a-clean-slate/#comment-17019 FrugalBabe, Why does your husband have a traditional IRA while you have a Roth IRA? I'm assuming it's related to self employment retirement options. . . . FrugalBabe, Why does your husband have a traditional IRA while you have a Roth IRA? I’m assuming it’s related to self employment retirement options. . . .

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