12-07-2014, 03:28 AM
(This post was last modified: 12-07-2014, 03:33 AM by Dividend Watcher.)
If you're not filing jointly, then you're above the income limit for a Roth and a Roth conversion although you can fund a conventional IRA and enjoy the tax free compounding now. Then, if you convert to a Roth after you retire (assuming your retirement AGI is below the threshhold) & pay the taxes at the time of conversion, you can enjoy some tax fee income.
Otherwise, you may want to stick with a taxable account instead as Eric mentioned. Since we don't know the details, you may want to see if you can find a fee only financial planner or a good Enrolled Agent (licensed to practice before the IRS and usually cheaper than a CPA) to do some modeling and come up with a plan. Just don't let them sell you anything.
You may want to contact Doug Meeks over at Seeking Alpha and see if he could work up a spreadsheet with the best method to approach this. He's a financial planner in Dallas who's very familiar with dividend growth investing. Don't know if he would do that for a fee without opening an account with him but wouldn't hurt to ask. I've talked with & emailed him over a topic I was thinking about and he's very professional and helpful and I know he knows the tax laws regarding IRAs.
Otherwise, you may want to stick with a taxable account instead as Eric mentioned. Since we don't know the details, you may want to see if you can find a fee only financial planner or a good Enrolled Agent (licensed to practice before the IRS and usually cheaper than a CPA) to do some modeling and come up with a plan. Just don't let them sell you anything.
You may want to contact Doug Meeks over at Seeking Alpha and see if he could work up a spreadsheet with the best method to approach this. He's a financial planner in Dallas who's very familiar with dividend growth investing. Don't know if he would do that for a fee without opening an account with him but wouldn't hurt to ask. I've talked with & emailed him over a topic I was thinking about and he's very professional and helpful and I know he knows the tax laws regarding IRAs.