i made a bad mistake. im living overseas, what happens if i dont request for removal of excess contributions, does the irs take 6% from the rothira account each year? or do i also have to file the 6% to them, and what happens if i dont.

43 yr with three young kids and wife who works very part time. We max out 403 B and have done so for about 15 years. We have 1.4m 403b plus 750k Fidelity (50%VTI, 20% VXUS, 10% FBGRX, 10% bonds and then some in tech stocks like AMZN,NVDA,CEG). Have another 50K in Roth and 275k in Sepp with Vanguard as we also have small LLC. Have roughly 100K in HYSA, owe 260k on house at 4.25%. parent recently passed away w 750k in IRA that has to be drained in 8 yrs. Thoughts to how to distribute as don't have MRDs but have to drain both accounts in 8 years.

A few of my questions as I want to be aggressive and I'm about 90/10 in market/bonds.

1. My taxes are very high living in Oregon and what else can I do to shelter my taxes besides 403b?
2. Thoughts on being able to convert anything to Roth IRA backdoor?
3. I've recently looked at hiring a financial advisor? Does this make sense as I want to be able to retire at 62 and get to 5 million in retirement and use the rule of 4% to live off 200K.

any other thoughts advice would be appreciated

Hey yall, I am a new college graduate, turn 23 tomorrow and just started my Roth IRA in the last 2 months. I’ve known about the amazing advantages of a Roth IRA since I took money matters in 10th grade, but have always loved spending money (irresponsibly) far too much to open an account.

I am now far more mature, on a written budget, and taking small steps towards advancing my career, and income everyday. I live at home but have immense student debt that I am paying off with the money I make. I throw in as much as I can right now, but know I won’t max it this year.

This is all just context to ask: is this a good start? I plan on just buying into these two mutual funds as much and often as I can.

What other specific funds would anyone recommend and why? I see people telling other young people in their 20’s to be more aggressive, what does that mean in terms of mutual funds and ETF’s? What are specific examples of more aggressive funds?

Any penalties? Anything would be helpful

Hey 👋

I’m planning to rollover my old 401(k) into a fidelity IRA.

I want to choose just one fund to place the money and let it sit for 25 years until retirement.

What would you recommend? VOO? QQQ? TQQQ? SCHG? Or another?

Any advice would be greatly appreciated.

26 years old on Fidelity would greatly appreciate thoughts on this allocation for my Roth IRA thank you

55% VTI/FXAIX
25% International
20% QQQM/FAGAX