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question about 401k
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<blockquote data-quote="Catatonic" data-source="post: 800928" data-attributes="member: 7966"><p>I think Dave would advise you to max out your Roth IRA which is only $5000 per year before investing in a 401k.</p><p>However, if the company matches your 401k, he would tell you to invest in that to the point were the match ends.</p><p>You may be able to invest in a 401k through payroll deduction as well.</p><p>The only thing that is wrong with a Roth IRA is it is limited to $5000 per year while you can invest up to $16,000 per year in a 401k ($22,000 if you are 50 or older).</p><p>$5000 per year is OK if you are 20, sucks if you are 30 and really sucks if you are 40</p></blockquote><p></p>
[QUOTE="Catatonic, post: 800928, member: 7966"] I think Dave would advise you to max out your Roth IRA which is only $5000 per year before investing in a 401k. However, if the company matches your 401k, he would tell you to invest in that to the point were the match ends. You may be able to invest in a 401k through payroll deduction as well. The only thing that is wrong with a Roth IRA is it is limited to $5000 per year while you can invest up to $16,000 per year in a 401k ($22,000 if you are 50 or older). $5000 per year is OK if you are 20, sucks if you are 30 and really sucks if you are 40 [/QUOTE]
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