UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76392  
Subject: Re: Rookie investor needs your help Date: 5/15/2001 3:44 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
1. Depends on what funds are in the 401(k). There are a few magic 401(k)s in the country where you have access to "institutional" funds with extremely low fees. If the fees are low enough, it might be worthwhile to leave it in the 401(k).

2. I use a different terminology than avjo. Both you and your wife can have your own IRAs, provided your total combined income is over $4000. I think it is a good idea to sheild as much assets from taxes as possible. Note that this means "don't put assets in an IRA that you're going to need before retirement".

3. Since you'll be covered by a retirement plan at work, you won't be able to deduct contributions to a Traditional IRA. Perhaps a Roth IRA would be better for you; you can put in $2000 per year. Your contributions to an IRA do not affect your company's contribution to your SIMPLE.

4. Have you gone through the Fool's School?
http://www.fool.com/retirement.htm?REF=PRMPIN
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Dividend Growth Investing

Good Time for Dividend Champions?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement