Rich Girls' Guide
IRA Excess Contribution | How To Avoid Taxes & Penalties
Worried about over-contributing to your IRA? I got you covered! Today we are going to go over what an excess contribution is, how to fix an over contribution in order to avoid taxes and penalties, and give you some tips & tricks on how to avoid this error in the future.
**please note this is not investment advice, just my opinion & should be used for entertainment purposes only**
CONNECT WITH ME:
YouTube: https://m.youtube.com/@richgirlsguide
Threads: https://www.threads.net/@richgirlsguidepodcast
Instagram: https://www.instagram.com/richgirlsguidepodcast/
TikTok: https://www.tiktok.com/@richgirlsguide
Want YOUR money question to be answered in an upcoming episode? Submit an anonymous question here: https://richgirlsguidepodcast.com/contact
MY EXACT YOUTUBE SETUP (Amazon affiliate links):
Canon EOS R6 Camera: https://amzn.to/3tb2dQG
SD Memory Card: https://amzn.to/3T9OTXx
Shure SM7B Microphone: https://amzn.to/3R9Yr2b
Teleprompter: https://amzn.to/3NalngD
Rodecaster Pro: https://amzn.to/46JolzF
Manfrotto Camera Tripod: https://amzn.to/3Rtm8nz
Cloudlifter: https://amzn.to/4a2ps04
Microphone Stand: https://amzn.to/3sY40bX
Mic Cable: https://amzn.to/3R52pZR
Amaran 100D LED Light: https://amzn.to/3Rqy9tN
Aputure Lantern Light: https://amzn.to/3GterY6
Softbox lighting kits: https://amzn.to/3R8c2Xz
Amazon Fire Tablet: https://amzn.to/3uLarzB
⅛ to ¼ Stereo Cable: https://amzn.to/418kr1L
ARTICLES MENTIONED:
Roth IRA Income Limits: https://www.schwab.com/ira/roth-ira/contribution-limits#:~:text=Roth%20IRA%20contributions%20are%20made%20on%20an%20after%2Dtax%20basis.&text=The%20maximum%20total%20annual%20contribution,re%20age%2050%20or%20older.
Penalty on Excess Contributions: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits
MY TOP FAVORITE BOOKS ABOUT HABITS & $$$ (Amazon affiliate links)
The Power of Habit: https://amzn.to/3GsfEPf
Atomic Habits: https://amzn.to/3uHR3U9
The Opposite of Spoiled: https://amzn.to/3Ndm5d0
You Are A Badass At Making Money: https://amzn.to/413F2V7
rich girls guide, women in finance, financial advice podcast, how to budget your money, investing 101, personal finance, financial management, financial planning, money challenge, debt free, payoff debt, caleb hammer, financial feminist, net worth, retirement planning, financial freedom, 401k, financial calculator, personal finance tips, financial literacy, money tips, money management.
Worried about over-contributing to your IRA? I got you covered! Today we are going to go over what an excess contribution is, how to fix an over contribution in order to avoid taxes and penalties, and give you some tips & tricks on how to avoid this error in the future.
**please note this is not investment advice, just my opinion & should be used for entertainment purposes only**
CONNECT WITH ME:
YouTube: https://m.youtube.com/@richgirlsguide
Threads: https://www.threads.net/@richgirlsguidepodcast
Instagram: https://www.instagram.com/richgirlsguidepodcast/
TikTok: https://www.tiktok.com/@richgirlsguide
Want YOUR money question to be answered in an upcoming episode? Submit an anonymous question here: https://richgirlsguidepodcast.com/contact
MY EXACT YOUTUBE SETUP (Amazon affiliate links):
Canon EOS R6 Camera: https://amzn.to/3tb2dQG
SD Memory Card: https://amzn.to/3T9OTXx
Shure SM7B Microphone: https://amzn.to/3R9Yr2b
Teleprompter: https://amzn.to/3NalngD
Rodecaster Pro: https://amzn.to/46JolzF
Manfrotto Camera Tripod: https://amzn.to/3Rtm8nz
Cloudlifter: https://amzn.to/4a2ps04
Microphone Stand: https://amzn.to/3sY40bX
Mic Cable: https://amzn.to/3R52pZR
Amaran 100D LED Light: https://amzn.to/3Rqy9tN
Aputure Lantern Light: https://amzn.to/3GterY6
Softbox lighting kits: https://amzn.to/3R8c2Xz
Amazon Fire Tablet: https://amzn.to/3uLarzB
⅛ to ¼ Stereo Cable: https://amzn.to/418kr1L
ARTICLES MENTIONED:
Roth IRA Income Limits: https://www.schwab.com/ira/roth-ira/contribution-limits#:~:text=Roth%20IRA%20contributions%20are%20made%20on%20an%20after%2Dtax%20basis.&text=The%20maximum%20total%20annual%20contribution,re%20age%2050%20or%20older.
Penalty on Excess Contributions: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits
MY TOP FAVORITE BOOKS ABOUT HABITS & $$$ (Amazon affiliate links)
The Power of Habit: https://amzn.to/3GsfEPf
Atomic Habits: https://amzn.to/3uHR3U9
The Opposite of Spoiled: https://amzn.to/3Ndm5d0
You Are A Badass At Making Money: https://amzn.to/413F2V7
rich girls guide, women in finance, financial advice podcast, how to budget your money, investing 101, personal finance, financial management, financial planning, money challenge, debt free, payoff debt, caleb hammer, financial feminist, net worth, retirement planning, financial freedom, 401k, financial calculator, personal finance tips, financial literacy, money tips, money management.