2007-11-14 13:36:47 · 8 answers · asked by Randy 1 in Business & Finance ➔ Personal Finance
Well I don't have a career yet, but I am currently in college studying finance...I heard good things about 401k but my professors can't stress enough, "don't rely on any retirement plans besides your own investments"
2007-11-14 13:43:28 · answer #1 · answered by puffer fish 5 · 0⤊ 0⤋
If your employer matches contributions than the 401K is almost always better. If you don't need tax breaks than a Roth IRA might be better as it will be tax free when you make withdrawals and you can take your contributions out at any time with no tax or penalty which you cannot do with a traditional IRA or 401K.
2007-11-14 21:47:19 · answer #2 · answered by ? 5 · 2⤊ 0⤋
An IRA is technically better, because a self-directed IRA allows you to choose from thousands of mutual fund, stock, bond and even real estate and commodity investments. An employer-sponsored plan is generally very limited. However, some employer plans provide a degree of matching funds, which is essentially free money, and the contribution limits are MUCH higher. So it's usually better to max out your employer plan.I f you participate in one, you can't do a tax-deductible IRA, but you can do a Roth, with after-tax money.
2007-11-14 21:50:59 · answer #3 · answered by curtisports2 7 · 1⤊ 0⤋
My accounting teacher in college always told me to invest in an IRA.
2007-11-14 21:40:31 · answer #4 · answered by Anonymous · 0⤊ 1⤋
401(k) if they offer any matching. A ROTH IRA if you want to deposit after tax money, but get back tax free returns in retirement.
2007-11-14 21:47:48 · answer #5 · answered by Anonymous · 1⤊ 0⤋
ira
2007-11-14 21:45:30 · answer #6 · answered by THE CROP KICK CHICK 4 · 0⤊ 1⤋
stop and think you company is putting up say 5% free money == so why would you not want the free money!!!
2007-11-18 19:23:23 · answer #7 · answered by mister ed 7 · 0⤊ 0⤋
401K
2007-11-14 21:44:16 · answer #8 · answered by asylum922 3 · 0⤊ 1⤋