Today’s Money In A Hot Minute question comes from Hamburger… they asked:
“Does it make sense to have a 401k through work and also try to max out yearly contributions on a Roth IRA? Does it make sense to max the 401(k) as much as possible rather than maintaining an IRA?”
Got a question you’d like answered? Post it in the comments below!
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REVEALED: Best Gold Backed IRA
Okay this made more sense than Graham Stephans video, tysm Nikki (am 20 btw)
nikki ty for the ez education. IMO you should always max both 401k and roth ira. * if your in the earning group.
This is the order every year in which you invest depending on how much you can contribute. Also the HSA is the best investing vehicle but you can't skip the free money via the employers from a 401k.
1. Any employer 401k or equivalent up to employer match
2. Full HSA yearly contribution if you have the right medical plan.
3. Full Roth IRA yearly contribution
4. Then either go back to your 401k or open a brokerage account. Or a bit of both
Excellent video Sister.
Thank you for all your videos, being straight up with everyone and what's best to do, subscribed!
Tax diversifying is a great point! Being only a few years out of school, I have only been doing Roth 401K and Roth IRA. I think I'll have to look into switching to a traditional 401K. Thanks!
thank you ,for all you do
Great information!
Hey Beautiful