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| Posted by | Message | rpg37 
LSU Fan
Robinsonville, MS
Member since Sep 2008
15520 posts
| Question about investing in retirement programs. (Posted on 2/24/13 at 11:36 pm)
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.
| | Back to top | Share on  | RedMustang 
Auburn Fan
Member since Oct 2011
2635 posts
| re: Question about investing in retirement programs. (Posted 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.
| | Back to top | | rpg37
LSU Fan
Robinsonville, MS
Member since Sep 2008
15520 posts
| re: Question about investing in retirement programs. (Posted on 2/25/13 at 6:55 pm to RedMustang)
I am now looking into the 403b option now. Not sure, yet.
I coach swimming. My HS team pays me a $3,000 stipend and my USA Swim Club is at $15,000.
| | Back to top | | TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
18981 posts
| re: Question about investing in retirement programs. (Posted on 2/25/13 at 8:16 pm to rpg37)
quote:
I am now looking into the 403b option now.
do you have a pension?
| | Back to top | | wegotdatwood 
Arkansas Fan
Member since Aug 2009
13842 posts
| re: Question about investing in retirement programs. (Posted on 2/25/13 at 8:45 pm to RedMustang)
quote:
Here in Minnesota, even head coaches just starting out make about $3500 per sport.
That's Minnesota. Bentonville, AR head coach makes 101k and all he does is coach.
| | Back to top | | rpg37
LSU Fan
Robinsonville, MS
Member since Sep 2008
15520 posts
| re: Question about investing in retirement programs. (Posted on 2/25/13 at 9:20 pm to TigerintheNO)
I do not.
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