Lol at these doctors making 500k complaining houses cost 800k. I'm a dentist in the Bay Area. Cheapest house anywhere around me is 1.8 million. And our school costs 500k and if you want to make more than 150k a year you need to buy a practice for 1-1.5 million. You guys will be fine
@arh12349 ай бұрын
I agree he'll likely be fine. It's good that he's thinking about it critically.
@YeOldePirateMaster9 ай бұрын
Just because dentists often have an atrocious deal does not mean a doctor will by definition be fine, especially if they want to “live like a doctor”
@davidpowell33479 ай бұрын
I guess in such a scenario as someone making a lot of income such as to be in a high tax bracket ,and then developing MS and becoming unable to work at age 40,it could be shown as an example where the non- Roth options would have worked out for the better ?
@arh12349 ай бұрын
Well, sure. For high income professionals, traditional 401ks are usually the right choice. They cannot do a deductable tradition IRA, so Roth IRA is the choice for tax-protected space.
@davidpowell33479 ай бұрын
IRMAA!! Taxation of Social Security Retirement Benefits Effects against the specific taxation of "qualified dividend" and "long term capital gains" income --- do these play into the arguments for/against the Roth IRA as against that other kind? I don't know enough to have an informed opinion as to whether it is more or less desirable to do Roth IRA contributions from the get go as opposed to doing Roth conversion but maybe that would be a good question to consider? I was not a "high earner" but during my time at work as a municipal employee the Roth IRA only came available well into my working years,I wish it had been available early,I don't even think the original IRA or 457 plan was available to ordinary employees as of when I began full time work (1974) I saw the Roth IRA as far superior and used it as much as was available to me and so far I have been proven right as for my own situation-in a higher tax bracket as a retiree than I was in for the majority of my working years