Hi all,
I am in my last year of residency and 3mos away from graduating. I have started looking into learning about personal finances and investing and throughout my reading kept thinking how I wish there was a bigger emphasis placed on this as we go through school and residency.
Anyways, I have a question which I hope you guys can help me with. For the first time in a while due to having to repay big expenses and a big tax return, I have some spare money and would like to start investing. My current resident salary is of about 70k. I am starting my new job likely end of July where my salary will be at least 600K.
I was hoping to get some guidance on opening a Roth IRA now (If I'm even eligible) vs simply a traditional IRA for the tax deduction since my income for the year will be about 300k vs backdoor Roth?
Thanks in advance
I am in my last year of residency and 3mos away from graduating. I have started looking into learning about personal finances and investing and throughout my reading kept thinking how I wish there was a bigger emphasis placed on this as we go through school and residency.
Anyways, I have a question which I hope you guys can help me with. For the first time in a while due to having to repay big expenses and a big tax return, I have some spare money and would like to start investing. My current resident salary is of about 70k. I am starting my new job likely end of July where my salary will be at least 600K.
I was hoping to get some guidance on opening a Roth IRA now (If I'm even eligible) vs simply a traditional IRA for the tax deduction since my income for the year will be about 300k vs backdoor Roth?
Thanks in advance
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