Contribute to 401k and Roth IRA?
July 20, 2010 12:27 PM Subscribe
Should I invest in both a 401k and Roth IRA?
posted by jwfree to Work & Money (23 answers total) 9 users marked this as a favorite
I am 25 with a base salary of $80k and bonuses that push me into the $90-100k range. I currently contribute the max my company will match into our 401k (six percent). After seeing my 401k grow minimally the last two years at a previous job, I am wanting to open a Roth IRA and contribute the max every year. This is where I have my questions.
Is it common to contribute to both a Roth IRA and a 401k? Or am I better off putting that ~$400/month for the 401k somewhere else?
I have just purchased the Boglehead's Guide and will be taking a look at that. I also don't mind setting up an appointment with a professional if need be to get everything in order.