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re: Traditional IRA contribution limits?

Posted on 2/13/10 at 1:05 pm to
Posted by Dr Rosenrosen
Member since May 2006
3376 posts
Posted on 2/13/10 at 1:05 pm to
Number 4 would be a variable annuity if you want a tax-advantaged account.

But if you can afford to max out your 401 and IRA and still have money left over you are a special person indeed.
Posted by wegotdatwood
Member since Aug 2009
17094 posts
Posted on 2/13/10 at 2:41 pm to
Is there a limit on how much you can put into any IRA the first time you open one?
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 2/13/10 at 4:54 pm to
If you can get a Health Savings Account, that is another option. Essentially it is a traditional IRA, except that you can withdraw tax-free for qualified medical expenses.

If your employer offers one of these it is likely with an employer match - always a good thing.
Posted by Thomas Hudson
Dallas
Member since Dec 2006
7309 posts
Posted on 2/15/10 at 2:33 pm to
quote:

But if you can afford to max out your 401 and IRA and still have money left over you are a special person indeed.


401K max is only $16,500 and IRA is $5,000, right? Doesn't seem like nearly enough to cover retirement investing (assuming a Roth is not an option). But I could be missing something.

Beyond 401K and IRAs, you're pretty much looking at traditional mutual funds to make up the difference, right?
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