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Retirement Discussions / FIRE Wannabees
|Subject: Re: New Account... Now what?||Date: 10/30/2010 3:40 PM|
|Author: Howie52||Number: 4902 of 5138|
"I want to add to that account in addition to the 401k I will be getting in a few months from the new job."
First, you might want to check the IRS website to see if you can
contribute to both a 401K and an IRA. You can set up a spousal IRA
- either regular or Roth - but there are limits.
Some investments are not allowed in IRAs - 401K investments tend to
be limited by the plan administrators. Look to the provided info to
find out potentials within the plans.
IRAs have limits as well - generally limited partnerships are
either not allowed or are restricted. So again, look at IRS
website resources. However, the question you ask tends to be
answered by the individual involved. How much risk do you feel
comfortable taking with the funds? How long a time period do
you have before you might need the funds? What kind of ROI do you expect?
Known to not answer questions directly or with any degree of
satisfaction from the questioner.
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