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Investing/Strategies / Retirement Investing
|Subject: To 401k or not to 401k, that is the que||Date: 5/23/1999 10:05 PM|
|Author: Beans1||Number: 10709 of 73906|
I've always been told, like a mantra (as well as reading this in several how to books on investing) to 'max our your 401k'...its basically free $ etc etc.
Yet several Fools on the boards have been saying 401ks are too limiting, and you're better off contributing to a traditional tax deductible IRA.
I agree many 401ks suck, while all have their limits, vs the limitless possibilities of your own IRA. However, its my understandign you can only put 2000/year in a traditional IRA. Theoretically you can put a lot more into a company's 401k plan. PLus if you already have a roth, your yearly max for both combined is still only 2,000 total..whereas a roth w. a 401k allows for more savings..or am i totally incorrect?
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