I do not have a 401K. I file an annual Form 1099-NEC for contract work in order to care for our three kids. My husband has part ownership in the company he works for, if that changes anything.
Thanks for the wash sales consideration. I hope that won’t be an issue as we plan to buy and hold. The only potential conflict would be trying to sell our advisor’s selections but I could always add the 30 day wait as a precaution.
I thank you all for your thoughtful retirement notes. I need to digest and try to understand it better after reading through the Wiki’s. I will circle back with better informed follow up questions. You have all been so generous with your explanations. And you would think this falls under the FA’s financial planning for clients but I can see why that advice wouldn’t be in their best AUM interest.
Retiredjg, I will inquire about the Form 8606 with our accountant. Sycamore, I will review my husband’s HSA contributions to ensure maximization.
Here’s our retirement estimates.
Her Traditional IRA: $130K
His Traditional IRA: $2M (ex-advisor had my husband roll his former employer’s 401K into this traditional IRA so he can pick better funds. He neglected to tell us it would then fall under his AUM until I finally got a hold of his statements)
Her Roth IRA: $40K
His Roth IRA: $80K
His current work 401K: $150K
Since the highest amount is in my husband’s traditional IRA, would it be a good growth strategy to add in VTSAX and maybe VTIAX? I think we won’t get the foreign tax credit in a retirement account but regardless, I’m looking to increase growth to make up for our lost years for optimization. Especially since it’ll take me some time to understand this back door Roth and other options.
Thanks for the wash sales consideration. I hope that won’t be an issue as we plan to buy and hold. The only potential conflict would be trying to sell our advisor’s selections but I could always add the 30 day wait as a precaution.
I thank you all for your thoughtful retirement notes. I need to digest and try to understand it better after reading through the Wiki’s. I will circle back with better informed follow up questions. You have all been so generous with your explanations. And you would think this falls under the FA’s financial planning for clients but I can see why that advice wouldn’t be in their best AUM interest.
Retiredjg, I will inquire about the Form 8606 with our accountant. Sycamore, I will review my husband’s HSA contributions to ensure maximization.
Here’s our retirement estimates.
Her Traditional IRA: $130K
His Traditional IRA: $2M (ex-advisor had my husband roll his former employer’s 401K into this traditional IRA so he can pick better funds. He neglected to tell us it would then fall under his AUM until I finally got a hold of his statements)
Her Roth IRA: $40K
His Roth IRA: $80K
His current work 401K: $150K
Since the highest amount is in my husband’s traditional IRA, would it be a good growth strategy to add in VTSAX and maybe VTIAX? I think we won’t get the foreign tax credit in a retirement account but regardless, I’m looking to increase growth to make up for our lost years for optimization. Especially since it’ll take me some time to understand this back door Roth and other options.
Statistics: Posted by newhere0625 — Sat Nov 01, 2025 10:12 pm — Replies 7 — Views 448