u/Fine-Introduction244

Hi all. I am new to investing other than starting a Roth IRA for myself years ago. I am currently a stay-at-home-mom and just cut my gym membership which was $114 a month. My husband does not have a Roth or traditional IRA but I want to help set one up for him with that gym money we are saving now.

Currently he makes about 80k but we expect his income to go up to about 250k in the next couple of years and I will likely go back to work part-time but I worked in childcare so it won’t be much. He is also expecting to get a large inheritance in the future but I want to operate regardless of that but might be something to think about considering taxes that we will likely owe then. Do you recommend I set him up with a traditional or Roth IRA? I don’t mind paying the extra taxes now (albeit not easy) if the benefit seems better later. I always assumed the Roth was better but truly don’t know and not a math wizard. Thank you so much!

Update: it seems the consensus is a Roth IRA now and then no consensus on whether to switch to traditional IRA or back door the Roth so I’ll have to look further into this. I also acknowledge that gym money alone isn’t going to make much difference now but hoping to add some bonus. Thank you all for your thoughts.

I’m trying to get better at managing my money and want to end my lifelong relationship with Bank of America. I keep hearing that the Fidelity Cash Management is a great alternative to a regular bank checking and I am very intrigued by the interest rates. However, I have read several comments from Redditors expressing that they would not do it as they wouldn’t want their everyday checking connected to where they have their brokerage account. That was my initial thought as well. How valid is this concern for security purposes? Thanks in advance.

Looking for recommendations on a checking account that I would use to pay fixed expenses but without any fees, easy to set up reoccurring monthly charges for bills, FDIC insured, and preferably one with a higher interest rate if that exists. Thank you in advance for any feedback! I currently have one with Sofi but looking to replace my Bank of America account. 💵