OP, as it doesn’t appear to have been raised previously, I might point out that the Freedom Blend series from Fidelity contains a blend of active and passively managed funds. We on the forum typically recommend only passive funds, such as your FXIFX, which carries lower fees. Is a purely passive option available in your employer plan?Sorry for the delay in my response but thunderstorms knocked out my internet unfortunately.
Thank you to everyone who took the time to respond to my initial "Roth or not?" post and share their very much appreciated knowledge!
I'll be 59 years old soon, single, no kids or family, zero debt, and retirement will be on my shoulders alone so I worry since I will have no one to take care of me as I age. Yikes.
I'm an Executive Assistant currently making around $104,000 due to lots of overtime because my company laid off several assistants and I've taken on their workloads. I hope I don't get laid off.
My current annual salary is $104,000 (Single Filer)
Federal = 24% tax bracket on $100,525 to $191,950 Taxable Income
State (Missouri) = 4.95% tax bracket on $8,449 or more
$447,000 in FXIFX (0.12 expense ratio, rollover IRA, no contributions being made)
$110,000 in FID FRDM BLND 2030 T (0.20 expense ratio, fund offered by employer, 19% taken out each paycheck with 9% going to Roth I just opened a couple weeks ago)
After reading all of your responses, I think I should do 19% Roth vs. the 9% I currently have going into Roth, correct?
Again, I'm clueless and just hoping I will have enough saved to be able to retire someday.
Thank you
Statistics: Posted by Pretsler — Sat Jun 08, 2024 11:26 pm