From $0 in 2011, my Roth IRA reached $100,000 in 2015. I will explain in detail with screenshots everything that I did in these 4 years.
The below table summarizes the entire process from 2011 – till date 2015:
We will get into specific details but broadly speaking here is what I have done:
- Maxed out my Roth IRA contributions in 2011
- Maxed out my Traditional IRA contributions and rollover over to Roth every year (2012 – 2015)
- I maxed out my After-tax (Thrift) contributions to the 401k plan
- Periodically rolled over the After-tax 401k money to Roth IRA (paying taxes on earnings)
Let me break up the above table and explain each section in a little more detail, along with my commentary. Continue reading