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Non matched 401k, or Roth IRA?
Posted on 3/11/17 at 3:25 pm
Posted on 3/11/17 at 3:25 pm
I work for a company that had 401k, but unfortunately they do not match anything. I've been putting into it for a few years, but lately I've got to thinking.
Should I continue to put into the 401k, or take the money that I'm putting into there and put it into a Roth IRA?
The 401k is helping me out as far as taxes are concerned, but I want to make sure I maximize the money that I'm putting away for retirement. Any thoughts?
Should I continue to put into the 401k, or take the money that I'm putting into there and put it into a Roth IRA?
The 401k is helping me out as far as taxes are concerned, but I want to make sure I maximize the money that I'm putting away for retirement. Any thoughts?
8
Posted on 3/11/17 at 3:35 pm to RedBeardBaw
I'm in the same situation and do both.
Posted on 3/11/17 at 3:47 pm to RedBeardBaw
my thinking is-
401K until the match is met, then Roth IRA to the max, then back to the 401K.
401K until the match is met, then Roth IRA to the max, then back to the 401K.
Posted on 3/11/17 at 4:15 pm to RedBeardBaw
The most you can put in a Roth IRA is $5,500 per year ($6500 if older). The 401K limits are much higher. Also, you will have many more options of investment vehicles in a Roth. If I were in your situation with no match then I would fully fund the Roth first and then as much as I could afford in the 401K.
Edited to change 5000 to 5500
Edited to change 5000 to 5500
This post was edited on 3/11/17 at 9:27 pm
Posted on 3/11/17 at 4:31 pm to PlanoPrivateer
5500 for Roth
Posted on 3/11/17 at 5:11 pm to PlanoPrivateer
quote:
The most you can put in a Roth IRA is $5,000 per year
wrong
Posted on 3/11/17 at 5:14 pm to RedBeardBaw
max the roth then invest in real estate. if my company had no match that is where my extra money would go. real estate is already my primary investment vehicle. great passive income and great tax advantages. i am not talking about my REIT's. I am talking about rentals.
Posted on 3/11/17 at 6:18 pm to RedBeardBaw
If you're getting no match then you're limiting yourself to what funds they provide.
Posted on 3/11/17 at 11:57 pm to RedBeardBaw
What is your goal? When do you want to retire? You have a literally ask yourself is a 401(k) or best offer to help me retire?
If you put that money into another vehicle and then use those funds to real estate or some other passive income strategy , then there is no doubt that you would retire sooner and have more wealth in your portfolio.
Also, you could structure it with real estate to have more tax benefits as well too. It is all what you were trying to do and what your goals are.
If you want to try and retire at age 65 or 70 just keep contributing to your 401(k) and hope m/speculate that you have enough money to live off of whenever the time comes.
If you put that money into another vehicle and then use those funds to real estate or some other passive income strategy , then there is no doubt that you would retire sooner and have more wealth in your portfolio.
Also, you could structure it with real estate to have more tax benefits as well too. It is all what you were trying to do and what your goals are.
If you want to try and retire at age 65 or 70 just keep contributing to your 401(k) and hope m/speculate that you have enough money to live off of whenever the time comes.
Posted on 3/12/17 at 9:17 am to RedBeardBaw
Does the 401k allow Roth contributions? Many plans do now. If not talk to your company about it.
Posted on 3/12/17 at 9:21 am to RedBeardBaw
After tax 401k if your plan allows.
Posted on 3/13/17 at 9:40 am to TigerintheNO
This is absolutely correct. Match, Roth match, then 401k. Unless you are in the highest bracket imaginable, anyone who says otherwise is a fool.
Posted on 3/13/17 at 10:29 am to player711
quote:
If you put that money into another vehicle and then use those funds to real estate or some other passive income strategy , then there is no doubt that you would retire sooner and have more wealth in your portfolio.
yup
quote:
If you want to try and retire at age 65 or 70 just keep contributing to your 401(k) and hope m/speculate that you have enough money to live off of whenever the time comes.
yup again
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