Yeah...Roth IRA's are awesome...until one day when you are doing your (now married) taxes and find out that your combined income is over $160k and that your wife was not eligible to contribute anything last year because of this and she has to withdraw $4k of it within the next 2 days or face tax penalties. Then they are not so awesome.
i need to get that book!
They have Roth 401(k)s now too. $15,500 max contribution per year (plus employer matching) with no income limit, I think. We need to get our companies to get on that.
I hear you on the whole "I really don't want to work until I die" deal!!
PS Check out the ING orange savings acct. too. Great interest rate and easy access to money in an emergency. Plus, if you start with at least $250, they GIVE you $25. To keep. Not too bad, right?
i have heard that's a great book! maybe i will pick it up, because as of right now - clueless about financial stuff.
I have no idea what you're talking about ... I need that book.
And how are you paying off your debt so quickly? It's half of what it once was, and a year hasn't even passed. Did you win the lottery or something?
Probably not as informative as your book, but the Motley Fool has some reasonable advise regarding 401K's and retirement in general.
http://www.fool.com/money/401k/401k.htm
before I started re-allocating some of my 401k funds and opened up my eTrade account (trading stocks is fun!), I read some investment books published by the WSJ. Knowing a stock from a bond from an ETF from a mutual fund makes the investment game much less scary. The books assume you know nothing, but are not written as though they are intended for idiots (or dummies). the best investment advice I've been given so far? know your current events.
I don't mean to rain on the parade, but you would be much better off putting that 300$ towards your credit card debt. The return on investment that you get from savings will never be as high as the exorbitant rates that credit card companies charge.
Commenting by HaloScan
