I have a 401K, I contribute to a deferred comp plan, and I have money in a mutual fund. Do I need to start an IRA?
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Put enough to get the total match on the 401k if one is given, then start saving outside the 401k for better investment choices.
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Check and check. Now, should I start an IRA?
I think that's what he meant by saving outside 401k. Some of the biggest 401k companies out there today have severe fees. Take advantage of employer match up to the cap, then invest in your IRA with better options.
I'm considering rolling my whole mess of a 401k into an IRA. Feels more like you "own" the money in a sense.
You need to talk to a financial advisor...if there is one on SVTP, find him. Nothing beats a professional who you can trust.
FWIW, I have a traditional IRA and my wife and I both have Roth's as well. All three are outside of our employer plans and provide diversity in our portfolio. I'm telling ya, talk to someone who can understand your individual situation and goals. Don't mess with this type of discussion on a car forum. Just my $0.02.
I speak with a fiduciary every six months or so. I enjoy hearing from people on here because they’re not interested in selling me anything. A fiduciary, on the other hand, has insurance and their company investments on their mind. This is a check and balance for me.
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A Roth IRA would be the way to go.Check and check. Now, should I start an IRA?
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Max your 401k out 1st then focus on the Roth.Ive had my 401k up to a 12% contribution plus the companies 4%. It's varied throughout the years but I think I will keep it at 4% now and contribute more to my Roth IRA instead of the 401k.
My mutual fund is obviously already taxed, and I can get money out if needed. My deferred comp is obviously not taxed until I draw it. I’m just not sure if or where an IRA fits.
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