Heavy_Cheddar

can someone help me understand the 6% penalty? i know it applies to each year the contributions stayed in the account. since it's not too late to fix 2024-25 I will just file an amended return.

for 2019-2023 is the "damage done"? in other words, can the penalty get even worse now that the contributions are removed or is it the 6% per year from 19-23 and that's it?

i guess, ultimately what im wondering is if the penalty is now locked in and won't get worse (since i removed the contributions) can i just wait to see if the IRS contacts me?

Was waiting for a Submariner or Datejust. Thought I wanted the Sub more. And don’t get me wrong I love it but now I’m yearning to know what it’d be like to own the flashier DJ.

I’m sure it’s not uncommon to feel this way but man I don’t know.

And, again, the sub is awesome. I don’t want to sound ungrateful but it’s a gnawing feeling wondering what the other would bring me.

But I do love rayon!

Love Aloha shirts. Especially rayon. But they’re a pain to care for unless I’m just being overly cautious?

Since 2019 our MAGI has exceeded Roth IRA limits.

I contributed ~$2700/year and my wife $3000/year.

I assume we will owe 6% on those amounts year over year?

Is there anything I’m missing to avoid paying such high penalties? I’m thinking we’ll both owe in the $2-3k range?!

not even sure where to start. it may have been a couple years that we've been over this MAGI.

1. how can I find out when we first exceeded MAGI?
2. how can I determine the amount contributed after exceeding MAGI?
3. what steps do I take after determining 1 and 2?

thank you.

not even sure where to start. it may have been a couple years that we've been over this MAGI.

1. how can I find out when we first exceeded MAGI?
2. how can I determine the amount contributed after exceeding MAGI?
3. what steps do I take after determining 1 and 2?

thank you.

Seems like it would be much more beneficial with just slightly added risk to be 100% S&P.

What am I missing? Why are bonds so often recommended? I’ve always heard the “age in bonds” mantra.

For reference I’m 40.

Seems like it would be much more beneficial with just slightly added risk to be 100% S&P.

What am I missing? Why are bonds so often recommended? I’ve always heard the “age in bonds” mantra.

For reference I’m 40.

Seems like it would be much more beneficial with just slightly added risk to be 100% S&P.

What am I missing? Why are bonds so often recommended? I’ve always heard the “age in bonds” mantra.

For reference I’m 40.

i cant believe this dude still profits off abuse

GMT and Day Date, right?

or are some total cheapskates and just give you the watch and that's all?