Question about investing in retirement programs. | TigerDroppings.com

Posted byMessage
rpg37
LSU Fan
Walls, MS
Member since Sep 2008
16510 posts

Question about investing in retirement programs.


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:
RedMustang
Auburn Fan
Member since Oct 2011
4090 posts

re: Question about investing in retirement programs.


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
Walls, MS
Member since Sep 2008
16510 posts

re: Question about investing in retirement programs.


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
22725 posts

re: Question about investing in retirement programs.


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
17094 posts

re: Question about investing in retirement programs.


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
  Replies (0)
rpg37
LSU Fan
Walls, MS
Member since Sep 2008
16510 posts

re: Question about investing in retirement programs.


I do not.





Back to top
  Replies (0)


Back to top