Quote:
Originally Posted by O.city
Is it worth it for me to max out an IRA for the wife and I or could I get better returns elsewhere?
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Quote:
Originally Posted by DaFace
In terms of RETURNS, you can do just as well with an IRA as you can with any other brokerage account, plus you get the tax benefits. So unless you're considering something outside of stocks and bonds, an IRA is pretty much always better than a brokerage account.
As Buehler said, the key is whether you need access to the money after you put it in. IRAs are meant to be a permanent deal, so you won't get to pull it out until you retire unless you want to pay penalties (though you can pull out Roth CONTRIBUTIONS early without penalty).
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If he's a dentist and his wife is working, I doubt he would qualify for the Roth based on income level.
Roth IRA Income Limits (for single filers) Phase-out starts at $118,000; ineligible at $133,000
Roth IRA Income Limits (for married filers) Phase-out starts at $186,000; ineligible at $196,000