So we talked last time about the problems with being on the threshold of the Roth IRA income limits. If you make way too much or way too little, then you know where you stand in terms of being able to contribute. It’s just that middle area, where you may or my not be able to contribute, that can be a problem.
This could happen to anyone. You could get a big raise at work. Anything that adjusts your Modified Adjusted Gross Income upward can do this.
The question is: if it turns out that you’ve contributed too much, what do you do?[Read more…] about The Roth IRA danger zone (part 2): What to do if you contributed too much