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401k vs. Roth IRA - My Take

June 24th, 2007 at 04:06 pm

I have recently been reading many articles pertaining to the advantages of a Roth IRA. [url]http://en.wikipedia.org/wiki/Roth_IRA[url]. I began to weigh the my options as far as where to park my retirement funds.

After contributing my maximum 15% to my 401k the last 2 years. I decided to cut wayyyyyyy back on these contributions and focus on maxing out my Roth IRA for the rest of 2007 ($4,000). My employer doesn't offer a match of any kind, so I'm not losing out on that.

Hopefully by 12/31/07 I will have maxed out my Roth and can then go back to larger 401k contributions in 2008, as I will have the entire year to try to max out my Roth in 2008 ($5,000).

By the way, i opened up my Roth at ING Direct. It was easy and painless. The mutual fund options are limited, so I may be looking to move to Vanguard or Fidelity in the future.

2 Responses to “401k vs. Roth IRA - My Take”

  1. Ima saver Says:

    Good for you, I have mine at Vanguard!!

  2. LuxLiving Says:

    Did you give up on us?

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