No. of Recommendations: 0
Gotta go with JAFO on this one.

If a 401k is available through your company, you can put into it. Your contributions may be limited as highly compensated employees -- so you might get a (taxed) check at the end of the year to reimburse you for the "extra" money you put into the 401k. (Personally, I'd question the abilities of financial planner who said you make too much money to contribute to a 401k.)

We're coming into similar problems with the income limits for Roths and have already maxed out the 401ks. We chose to open traditional brokerage accounts, through which we invest in Mutual Funds and Stocks. We won't save money in taxes, but we should do alright in the long haul.

20-year term insurance for young, healthy people is dirt cheap BTW.

Best of Luck,

Teresa
Print the post  

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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 Glassdoor #1 Company to Work For 2015! 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