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Started By
Message
re: Opening Roth IRA
Posted on 12/18/18 at 8:31 am to jimbeam
Posted on 12/18/18 at 8:31 am to jimbeam
quote:
I don’t understand this argument at all. Why would you ever NOT max your Roth in order to fill a taxable account first?
quote:
Im a college student currently with a good PT job/internship that I work a decent amount at. I want to open a Roth IRA and start contributing a little
I agree in your sense, but that's not what we're talking about. If I was the OP and I had a little extra scratch I'd just put it in a high yield savings account. It's very commendable that he wants to start saving early, but I just don't think a Roth is the most practical option at this point. He could very well need to dip into some of that money pretty soon. Moving expenses, deposits on a new place, etc, etc
2
Posted on 12/18/18 at 12:36 pm to Mingo Was His NameO
quote:
I just don't think a Roth is the most practical option at this point. He could very well need to dip into some of that money pretty soon.
He can fund a money market account in the Roth, avoid any potential gains, and still remain liquid. The online savings account will provide taxable gains at no discernible increase in liquidity.
Posted on 12/18/18 at 12:48 pm to Mingo Was His NameO
Vanguard MM is around 1.7% right now.
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