I am 25, make about $55k and have multiple jobs. My primary job is teaching (40k) and do coaching on the side for the remainder. As a young teacher, what is the best option of plan to invest in - 401k, Roth, etc.?
My other question is what happens if my career changes? I do not plan on teaching but for only a few years. Do I set this plan up at a bank, an investor or with my employer?
Thanks for any help and I apologize for so many questions. I am brand new to this and am wanting to make the best decision longterm and there just seems to be so many ideas out there on what is best.
RedMustang Auburn Fan Member since Oct 2011 4758 posts
re: Question about investing in retirement programs.(Posted by RedMustang on 2/25/13 at 1:24 am to rpg37)
Does your school have any kind of a 403(b) match? That would be your best option. After that, a Roth can't be beat. The withdrawals are tax free and you have a lot if options in which yo invest. BTY, what do you coach and what are the salaries? Here in Minnesota, even head coaches just starting out make about $3500 per sport.