If i'm understanding correctly, my MAGI is too high for a tax benefit from my IRA
I currently make $80k with 3% of that going into a non-matched company 401K and also have a small IRA managed by Betterment which gets roughly $1.5k/year. (I keep depositing into Betterment because the minimum deposit amount is ~$100/month to maintain the portfolio).
Anyways, I guess the MAGI limit for those sponsored by a company plan is roughly $60-$71k so does it make sense for me, next year (2017) to increase my 401k contribution to get me roughly $2k under the $71k limit so that I can a tax break on the Betterment IRA?
