Perfect, thanks again. Have a wonderful day!

Hence the point of the Roth, understood. If I may ask one last question, would you consider it a wise strategy to attempt to increase my last remaining 401k deductions for the year (currently contributing very minimally, like $50 a paycheck) enough to lower my MAGI below the Roth limit? I’m really only a couple thousand over and I think it’d be less effort, both now and moving forward, to attempt that approach.

I’m curious to hear your thoughts if you don’t mind and could spare the time.

Thanks again, very much appreciate your input!

Thanks! So I could technically just contribute enough to my remaining 401k deductions to lower my MAGI enough to avoid the 129k limit. Hmm, I may just do that.

Much appreciated!

Thank you. When you say convert as soon as you can, does that imply I convert as soon as I have maxed that years contribution limit or is there some type of schedule you have to follow.

Thanks again and apologies for my ignorance!

Got it. Unfortunately I do exceed that and thus cannot just disregard this issue as I initially hoped when reading that paragraph, lol.

Thanks very much!

No, I’m still quite green with contributions. Only contributed to Roth the past two years and last year I was making much less.

Thank you. I noticed the cited MAGI figure in your source was listed at 137k for 2019. I don’t exceed that value. Is there an official source for this value somewhere?

Ah because it would lower my tax liability, understood. I don’t think it will but I’ll run the numbers. I’ll look into recharacterizing with my chosen financial institution, as well.

Thanks very much!

I have not. I only started contributing to a401k this year. Is that included in the limit calculation?

A lot of money was funneled from tax payers pockets to Adams acquaintances

Congrats, you’ve elected yourself a corrupt, incompetent mayor that is running city agencies and services into the ground a little more each day.