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.
401k vs. Roth IRA - My Take
June 24th, 2007 at 05:06 pm
June 24th, 2007 at 06:02 pm 1182704537
October 4th, 2009 at 03:00 am 1254621625