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    Old Employer’s 401(k) won’t do direct rollovers

    @lostinlove And still have a tIRA balance today/when you want to exercise the backdoor option. (If you contributed to a tIRA 20 years ago with your high school job income and then converted it to a Roth during college when you were unemployed and have $0 tIRA today, you're fine.) Your...
  2. I

    Old Employer’s 401(k) won’t do direct rollovers

    @rachellee A tIRA balance created today will cause problems if you ever need to make use of backdoor contributions in the future. You can make backdoor contributions, but there will be pro rata taxes.
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    Old Employer’s 401(k) won’t do direct rollovers

    @rachellee You bork your future ability to make backdoor Roth contributions.
  4. I

    IRS released 401k and IRA contribution limits for 2024

    @loneliness The streak continues!
  5. I

    $47828 in Credit card debt- looking for ideas

    @skelly $1200 in addition to the minimums or $1200 including the minimums? Because $1200 barely covers the minimums. If you can't find a way to drastically cut your expenses (especially that "other" $1951/mo) or increase your income (2nd job, 3rd job), your only options are bankruptcy or an...
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    $47828 in Credit card debt- looking for ideas

    @skelly You're missing a lot of expenses, how much money to you have to put toward debt each month?
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