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re: Youngster IRA Allocations
Posted on 9/18/13 at 2:31 pm to kennypowers816
Posted on 9/18/13 at 2:31 pm to kennypowers816
I have a 401k. What are the tax benefits to having both an IRA and 401k? As in, does it change the limits that are tax deductible? If so, would it not be more advantageous to max out the 401k?
1
Posted on 9/18/13 at 2:42 pm to NukemVol
Both my 401k and IRA are roth accounts so the tax benefits (or lack thereof in the short term) are the same.
I max out my IRA because it gives me the flexibility to invest in whatever I want, not just the 10 fund options (plus 20 target date funds) in my 401k plan.
I max out my IRA because it gives me the flexibility to invest in whatever I want, not just the 10 fund options (plus 20 target date funds) in my 401k plan.
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