Comments on: Where Should You Invest First – 401(k) or IRA? http://cashmoneylife.com/invest-401k-traditional-roth-ira/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ryan http://cashmoneylife.com/invest-401k-traditional-roth-ira/#comment-41718 Ryan Wed, 14 Dec 2011 22:28:43 +0000 http://cashmoneylife.com/2008/02/14/invest-401k-traditional-roth-ira/#comment-41718 Brenda, <a href="http://cashmoneylife.com/how-to-rollover-a-401k-plan-into-an-ira/" rel="nofollow">Rolling a 401k into an IRA</a> is a great option since you can control your costs and investment options. Here are more things to consider: <a href="http://cashmoneylife.com/should-you-rollover-a-401k-into-an-ira/" rel="nofollow">Should You do a 401k Rollover into an IRA</a>? I ended up rolling all of my previous 401k plans into IRAs when I changed jobs. When I rolled my 401k plans over I chose to use <a href="http://cashmoneylife.com/vanguard-401k-rollover-ira/" rel="nofollow">roll my old 401k into an IRA at Vanguard</a>. I can't advise you on Company American Funds as I am not familiar with them. A good source to start with is this following article which lists our favorite <a href="http://cashmoneylife.com/where-to-open-a-roth-ira-account/" rel="nofollow">places to open a Roth IRA</a>. Best of luck! Brenda, Rolling a 401k into an IRA is a great option since you can control your costs and investment options. Here are more things to consider: Should You do a 401k Rollover into an IRA?

I ended up rolling all of my previous 401k plans into IRAs when I changed jobs. When I rolled my 401k plans over I chose to use roll my old 401k into an IRA at Vanguard.

I can’t advise you on Company American Funds as I am not familiar with them. A good source to start with is this following article which lists our favorite places to open a Roth IRA. Best of luck!

]]> By: Brenda http://cashmoneylife.com/invest-401k-traditional-roth-ira/#comment-41713 Brenda Wed, 14 Dec 2011 20:06:55 +0000 http://cashmoneylife.com/2008/02/14/invest-401k-traditional-roth-ira/#comment-41713 I'm leaving my job & I'm looking into putting my 401k into a Traditional IRA. Somebody advice me to look into the Mutual Fund Company American Funds? How well rated is this company in the market? Can you provide me with any advise? One more thing - Should I open an Individual account or should open a joint account with my husband. Pros & Cons? I would like to hear your opinion as well. Thank you kindly! I’m leaving my job & I’m looking into putting my 401k into a Traditional IRA. Somebody advice me to look into the Mutual Fund Company American Funds? How well rated is this company in the market? Can you provide me with any advise?

One more thing – Should I open an Individual account or should open a joint account with my husband. Pros & Cons? I would like to hear your opinion as well. Thank you kindly!

]]> By: Sun http://cashmoneylife.com/invest-401k-traditional-roth-ira/#comment-38792 Sun Tue, 15 Nov 2011 03:49:36 +0000 http://cashmoneylife.com/2008/02/14/invest-401k-traditional-roth-ira/#comment-38792 Ryan - Where does debt fit into 401k/403b employer match and Roth IRA? My employer offers 4% 403b match. I also have $20k in credit card debt. Should I look to max out a Roth IRA after the employer match or focus on the credit card debt? Is there a sweet spot interest rate between investing in Roth IRA vs credit card? For example, if all my credit card debt was 0%, it would make sense to invest in Roth IRA for the year. What if the CC APR was 10%? If you were Dave Ramsey, he'd say pay the CC off no matter what first... but from a math greek perspective, what would be best? Ryan – Where does debt fit into 401k/403b employer match and Roth IRA? My employer offers 4% 403b match. I also have $20k in credit card debt. Should I look to max out a Roth IRA after the employer match or focus on the credit card debt? Is there a sweet spot interest rate between investing in Roth IRA vs credit card? For example, if all my credit card debt was 0%, it would make sense to invest in Roth IRA for the year. What if the CC APR was 10%? If you were Dave Ramsey, he’d say pay the CC off no matter what first… but from a math greek perspective, what would be best?

]]> By: Brian Greenberg http://cashmoneylife.com/invest-401k-traditional-roth-ira/#comment-34965 Brian Greenberg Wed, 21 Sep 2011 08:47:37 +0000 http://cashmoneylife.com/2008/02/14/invest-401k-traditional-roth-ira/#comment-34965 Solid advice Ryan. 1. utilize company matching(401k) 2. roth ira 3. more 401k contributions It starts to get a little more confusing with Roth 401k's though :) Contributions to Roth 401k would then be #3. Good job starting your investing so early. Your Father is a wise man. Solid advice Ryan.
1. utilize company matching(401k)
2. roth ira
3. more 401k contributions
It starts to get a little more confusing with Roth 401k’s though :) Contributions to Roth 401k would then be #3.
Good job starting your investing so early. Your Father is a wise man.

]]> By: Ryan http://cashmoneylife.com/invest-401k-traditional-roth-ira/#comment-30600 Ryan Mon, 14 Mar 2011 03:33:48 +0000 http://cashmoneylife.com/2008/02/14/invest-401k-traditional-roth-ira/#comment-30600 Jean, I recommend he speak with a tax professional to help him better understand his situation and options. Jean, I recommend he speak with a tax professional to help him better understand his situation and options.

]]> By: david http://cashmoneylife.com/invest-401k-traditional-roth-ira/#comment-30594 david Mon, 14 Mar 2011 01:41:29 +0000 http://cashmoneylife.com/2008/02/14/invest-401k-traditional-roth-ira/#comment-30594 Thank you for the info, I have one employee that I ask him to invest in his retirement, as a small business of him(he's 25 now") and I, i want to make sure he's taken care of at the end of his days. For 4 years I've deducted 200 a month. Now our bank doesn't offer Sep IRA's. The Sep Ira was so easy as it would mature and roll over. with no knowledge really, we're not sure what to do as they moved the money into a "club account". for two guys who know nothing about investing where and what is a good choice. i don't feel we'll be to involved with the whole thing as we're just your common joe workers. thanks david. Thank you for the info, I have one employee that I ask him to invest in his retirement, as a small business of him(he’s 25 now”) and I, i want to make sure he’s taken care of at the end of his days. For 4 years I’ve deducted 200 a month. Now our bank doesn’t offer Sep IRA’s. The Sep Ira was so easy as it would mature and roll over. with no knowledge really, we’re not sure what to do as they moved the money into a “club account”. for two guys who know nothing about investing where and what is a good choice. i don’t feel we’ll be to involved with the whole thing as we’re just your common joe workers. thanks david.

]]> By: Jean http://cashmoneylife.com/invest-401k-traditional-roth-ira/#comment-30585 Jean Sun, 13 Mar 2011 21:12:03 +0000 http://cashmoneylife.com/2008/02/14/invest-401k-traditional-roth-ira/#comment-30585 Hi again: I forgot to let you know that he is only 37 years old when he withdrew the $55000.00. Thanks again Jean Hi again: I forgot to let you know that he is only 37 years old when he withdrew the $55000.00. Thanks again Jean

]]> By: Jean http://cashmoneylife.com/invest-401k-traditional-roth-ira/#comment-30584 Jean Sun, 13 Mar 2011 21:09:29 +0000 http://cashmoneylife.com/2008/02/14/invest-401k-traditional-roth-ira/#comment-30584 I have a question. My son-in-law redrew $55,000. from his IRA. They deducted $10000.00 For Taxes, and then they also deducted another $4900.00 for penalties. Our tax adviser said that they will also have to claim the entire $55000.00 as income which will then force them into a higher tax bracket. Is this true? I would have thought that the $10000. they deducted was for that purpose. Could you please email me back and let me know if they do all 3 things to them. If they do, what a terrible price to pay for paying off credit card debt!!!!!!!!!. Thanks Jean I have a question. My son-in-law redrew $55,000. from his IRA. They deducted $10000.00 For Taxes, and then they also deducted another $4900.00 for penalties. Our tax adviser said that they will also have to claim the entire $55000.00 as income which will then force them into a higher tax bracket. Is this true? I would have thought that the $10000. they deducted was for that purpose. Could you please email me back and let me know if they do all 3 things to them. If they do, what a terrible price to pay for paying off credit card debt!!!!!!!!!. Thanks Jean

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