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<blockquote data-quote="Benben" data-source="post: 1167141" data-attributes="member: 25133">Re: UPS/Teamster 401k...Prudential to a Dreyfus self managed account...+22.86% for 20Most Financial advisors will offer a free first consultation, use this to vet out a few and pick their brains.&nbsp; Just remember they don&#039;t get paid unless you give them money to &quot;manage.&quot; so expect a sell job. As for the Roth options in 401K&#039;s and IRAs.&nbsp; The 401K Roth option is capped at 5% a year.&nbsp;&nbsp; I had a driving mentor who retired last year.&nbsp; I caught up with him 2 weeks ago and got to twist his year.&nbsp; When he retired he had $288K in his 401K.&nbsp; Now with his; 1.pension, 2. SS, 3.Wife&#039;s SS and 4. pulling from his 401K above the green line (not 100% sure what this means) his monthly income is higher than when he was working 55 hours a week.&nbsp; This plus possible government tax increases in the future makes Roth options very appealing to me. Putting dollars into a Roth lowers your weekly take home pay a lot more than just putting it into the regular 401K!&nbsp; I have a wife and 2 teenage kids.&nbsp; I can not put as much into the Roth as I&#039;d like but when those 2 kids are out of college I will max that option out every year!&nbsp; The annual Roth 401K limit is currently $5K. The income limits for a ROth IRA are too low for most drivers to qualify for but according to my Edward Jones guy there are ways around them but I have yet to go down that road.</blockquote>

[QUOTE="Benben, post: 1167141, member: 25133"] [b]Re: UPS/Teamster 401k...Prudential to a Dreyfus self managed account...+22.86% for 20[/b] Most Financial advisors will offer a free first consultation, use this to vet out a few and pick their brains. Just remember they don't get paid unless you give them money to "manage." so expect a sell job. As for the Roth options in 401K's and IRAs. The 401K Roth option is capped at 5% a year. I had a driving mentor who retired last year. I caught up with him 2 weeks ago and got to twist his year. When he retired he had $288K in his 401K. Now with his; 1.pension, 2. SS, 3.Wife's SS and 4. pulling from his 401K above the green line (not 100% sure what this means) his monthly income is higher than when he was working 55 hours a week. This plus possible government tax increases in the future makes Roth options very appealing to me. [B] Putting dollars into a Roth lowers your weekly take home pay a lot more than just putting it into the regular 401K[/B]! I have a wife and 2 teenage kids. I can not put as much into the Roth as I'd like but when those 2 kids are out of college I will max that option out every year! The annual Roth 401K limit is currently $5K. The income limits for a ROth IRA are too low for most drivers to qualify for but according to my Edward Jones guy there are ways around them but I have yet to go down that road. [/QUOTE]

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