I opened a Roth IRA when I was 18 and have been depositing the

The amount that's invested stays invested. Contributing does not affect what's already been invested. Whether it increases depends on how the investments themselves perform, independent of contributions.

>I will exceed income limits in 9 years

How the fuck do you figure that

>>1852837
From my understanding contributing when you exceed income limitations results in tax on the earnings. I'm not so much concerned about the increase but possible tax changes that could occur on the gains when I exceed limitations. Sorry if I'm being unclear

>>1852838
I'm a first year medical student. Three more years school, five years of residency, and a one year fellowship assuming I don't flunk out.

>>1852847
Yes, you'll be penalized if you contribute more than you're supposed to. I meant that for the funds already contained within the Roth, just because you stop contributing doesn't mean that those funds stop growing,assuming whatever you're invested in is giving you a positive return.

>>1852847
As long as you follow the Roth rules and don't over contribute, you don't have to worry about taxes at all. You paid the taxes when you earned the money and deposited it in your Roth, which is an after tax account. Then it grows tax free, and you withdraw from it tax free when you retire (assuming nothing happens like a change in the law, or Roth accounts confiscated by the government).

File: 1487580022973.jpg (320KB, 1920x1080px) Image search: [Google]

320KB, 1920x1080px

>>1852885
Alright that's what I was hoping thanks. Didn't know if I should keep dropping 5500 for the next 9 years if it would end up getting tax applied because of the bump. Appreciate it

>>1852897
You're welcome. Keep contributing. When you make too much, stop. What's in the Roth isn't subject to taxes, so it 'doesn't care' if you are make $1 or $1000000/yr after that. Your salary and what's already in the Roth are independent of each other.

>>1852885
Could the government do that like a bank could your savings account in times of financial turmoil?

>>1852919
Retirement accounts have been confiscated in other countries before. It's certainly possible; but of course the likelihood, conditions under which it may happen, etc are more of a debatable /pol/ topic.

>>1852903
>When you make too much, stop.

>When you make too much, stop contributing to the Roth, open a traditional IRA, and keep going.

FTFY.

>>1852897
>>1852820
And to think, I'll never be able to afford something as cosy or comfy as these fantasy pictures because the Boomer need that fourth investment property.

>>1852885
when you withdraw you pay whatever is your income tax bracket on it no?

>tfw 22
>tfw going to be just under the IRA limit in a few months
Company only offers 401k, might as well go for that.

>>1853136
One's a shitty apartment designed to be torn down in 30 years, the other is a family home constructed using traditional joinery.

>>1853255
Not with a Roth. You already paid taxes on it when you earned it. It both grows and distributes tax free (as long as you satisfy the age requirements, currently must be 59 1/2 to take distributions).

Tax deferred plans like a 401k do pay taxes on withdrawal, based on your bracket. But you didn't pay income tax when you made the contributions. But often you are in a higher tax bracket when working vs when retired. Not always, of course. So it's usually better to contribute to your 401k and reduce your taxable income at the same time, when in a higher tax bracket while working. Then, when retired, structure your withdrawals to stay in a lower bracket if you can. This is the general idea, but everyone's situation is different especially when you consider self employment, working in retirement, inheritances, etc etc.

>>1853505
Not to mention that 401k matching = free pretax $. 401k, Roth, traditional Ira all have their place and I use all 3.