- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
vehicles to invest with retirement
Posted on 5/2/14 at 7:20 am
Posted on 5/2/14 at 7:20 am
Scenario: employed with small business. No 401k plan. I've got a Roth ira going.
My question: once I max the Roth contributions, are there other vehicles to use aside from finding growth mutual funds? Stocks?
What is the best way to approach?
My question: once I max the Roth contributions, are there other vehicles to use aside from finding growth mutual funds? Stocks?
What is the best way to approach?
2
Posted on 5/2/14 at 8:12 am to HailToTheChiz
This is a very broad question. How long until retirement? How much will you invest? Periodically or do you have a lump sum right now?
ETFs are something to look into. Its is hard to beat the return on an index fund in the long term. If you start a traditional IRA as well you will have some solid options just like your Roth
ETFs are something to look into. Its is hard to beat the return on an index fund in the long term. If you start a traditional IRA as well you will have some solid options just like your Roth
Posted on 5/2/14 at 8:17 am to OceanMan
Thought you couldn't have both? Or couldn't invest more than 5500 between the 2 I should say
Posted on 5/2/14 at 8:26 am to jimbeam
quote:
Or couldn't invest more than 5500 between the 2 I should say
I believe this is the case.
Posted on 5/2/14 at 8:49 am to HailToTheChiz
Add a Roth 401k to your plan ($17,500 salary deferral plus $34,500 in employer match) as your primary vehicle for your small business income and end your ongoing partnership with the feds. Plus you can still contribute to a Roth IRA independent of any 401k plan
Posted on 5/2/14 at 8:58 am to GoIrish02
I think that assumes he is the owner of the small business.
Posted on 5/2/14 at 9:02 am to Volvagia
SEP, Simple IRA, tons of options
Posted on 5/2/14 at 9:06 am to Volvagia
Right. His post says "employed."
Posted on 5/2/14 at 9:15 am to 318TigerFan
I'm not owner. I'm 27. Putting away 500 to ira per month. Trying to figure out what else to do rather than just the ira
Posted on 5/2/14 at 9:27 am to HailToTheChiz
check out what your fellow Auburn poster bought in the post below yours.
He chose a high dividend yield ETF from Vanguard:
ETA: LINK
He chose a high dividend yield ETF from Vanguard:
quote:
Going to go with VYM, thanks for the advice
64.54, a 15 P/E so a 4.30 per share
ETA: LINK
This post was edited on 5/2/14 at 9:29 am
Posted on 5/2/14 at 9:57 am to HailToTheChiz
quote:
Putting away 500 to ira per month.
I'm still fairly new to all this, but at this rate you'll exceed the 5500 limit for a Roth (assuming 12 months and no contributions being applied to prior year).
What happens if you exceed that amount?
Posted on 5/2/14 at 10:38 am to bayoubengals88
I'm into VYM and will continue to pump $$ into it.
Posted on 5/2/14 at 10:44 am to dcrews
I didnt think I could exceed that amount? I plan on all 5500 going to that ira
Posted on 5/2/14 at 2:22 pm to dcrews
quote:I think he may have been estimating. $5500 for 12 months would be $458/month
'm still fairly new to all this, but at this rate you'll exceed the 5500 limit for a Roth
Posted on 5/2/14 at 4:32 pm to dcrews
quote:
What happens if you exceed that amount?
I think you pay penalty taxes every year on the excess and any positive returns from the excess until the excess has been taken by the government or you move it out of the IRA. You have until the tax filing deadline to avoid the overcontribution penalty, so there's a window between the end of the year and filing deadlines to properly adjust the account balances. Of course, there may be other penalties involved in moving money out of a tax-favorable account early...
I also think you might be able to apply over-contributions towards the following year's IRA limits, within boundaries. I'm not sure on that, though. I generally try to make sure I'm short on Dec. 31 and make final contributions to get me up to $5500 total once I start doing my taxes (tax filing day is also the deadline to make contributions for the previous tax year) to avoid going over.
This post was edited on 5/2/14 at 4:45 pm
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News