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re: Just got a new job making nearly 50k.
Posted on 5/27/16 at 8:49 am to Sho Nuff
Posted on 5/27/16 at 8:49 am to Sho Nuff
quote:
Do they have a 401k? Do you have to wait or can you join now? Put as much as you can to grab as much match from them as possible. Open a Roth IRA and max that out. The great thing about a Roth is you can pull out your contributions without penalty if you need them so this is a great place to park your money and earn interest.
OP glad you started this thread, I'm in pretty much the same boat.. Graduated December and making around the same.
Where is the best place to open a Roth IRA? How does it differ from a 401k? My company puts in a percentage of my salary and I can match the 401k.
1
Posted on 5/27/16 at 8:54 am to DeboseKnows
quote:
Where is the best place to open a Roth IRA? How does it differ from a 401k
Vanguard or Fidelity (I do Vanguard)
Main difference is the tax advantage. 401k is deferred on your taxes now, but taxed later when you withdraw. Roth isn't deferred on your taxes now, but is tax free when you withdraw (assuming you follow the rules and they don't change).
This post was edited on 5/27/16 at 8:58 am
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