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ROTH and Vanguard - Should I use them?
Posted on 11/20/14 at 12:00 pm
Posted on 11/20/14 at 12:00 pm
I know there is a max amount one can put into a ROTH account but is that a total max for ROTH or for each ROTH account.
What I really am asking is the following:
I have a ROTH 401k plan with my company and I am looking into opening an account with Vanguard possible an IRA ROTH Target Retirement Funds. Is the max I can put into my ROTH accounts a total fo $5500 or is it double (ie each account gets the $5500). I just want to double check or figure out what the best option for me to do.
I also would like any additional/personal thoughts with opening an account with Vanguard IRA ROTH Target Retirement Funds.
Thanks for everyones help and advice.
What I really am asking is the following:
I have a ROTH 401k plan with my company and I am looking into opening an account with Vanguard possible an IRA ROTH Target Retirement Funds. Is the max I can put into my ROTH accounts a total fo $5500 or is it double (ie each account gets the $5500). I just want to double check or figure out what the best option for me to do.
I also would like any additional/personal thoughts with opening an account with Vanguard IRA ROTH Target Retirement Funds.
Thanks for everyones help and advice.
This post was edited on 11/20/14 at 3:13 pm
3
Posted on 11/20/14 at 12:07 pm to tNk112214
You can add $5,500 into your Roth IRA, but not for the reason you think. You aren't capped by Roth. You can contribute $5,500 per year into an IRA. That cap is separate from any 401k contribution. The fact that they are both Roth is irrelevant.
ETA: target date funds are fine, particularly if you don't want to keep up with reallocation as you age.
ETA: target date funds are fine, particularly if you don't want to keep up with reallocation as you age.
This post was edited on 11/20/14 at 12:09 pm
Posted on 11/20/14 at 3:12 pm to tNk112214
Anyone have any personoal thoughts or other recomendatins than Vanguard
Posted on 11/20/14 at 4:28 pm to tNk112214
Nope. Use Vangaurd.
Posted on 11/20/14 at 7:17 pm to tNk112214
I like Fidelity better and they have no cost etfs and funds like vanguard but to each his own. They both are great options.
Posted on 11/22/14 at 11:01 am to tNk112214
If you are a "self-sufficient "type of investor then Vanguard is a great place for you. However, if you need a lot of advice then vanguard will not be a good place for you.… Then you can look at other brokerage firms to five low-cost Vanguard mutual funds anyway
Either way you are headed in a great direction!.
Either way you are headed in a great direction!.
Posted on 11/23/14 at 7:24 am to tNk112214
I use Vanguard personally and love them. But 401k is thru Scwabb and I've been happy with them too.
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