Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: aj485 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 25707  
Subject: Re: New job/No 401K Date: 1/22/2012 1:54 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
Is there a limit I can contribute to my Roth? I thought it was 6K

Yes, there is a limit. The limit is $5k annually if you are under 50, and $6k annually if you will be 50 or older by the end of the year that you are contributing for.

My question is if I'm limited to the Roth at 6K what other avenues would this board suggest.

Taxable accounts. Just because it doesn't say '401(k)' or 'IRA' doesn't mean that it can't be used for retirement.

You may want to allocate investments that will have income taxed at ordinary income rates (non-qualified dividends, interest, short-term gains, etc.) in your tax advantaged accounts, and investments that will be taxed at lower rates (long-term gains, muni bonds, qualified dividends, etc.) in your taxable accounts.

Ensure that you are looking at your investment allocations across all types accounts that you own - don't think that if you want a 70/30 stock/bond allocation that each type of account has to have that allocation - you just need to look at the totals.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next


Foolanthropy 2015!
Fistula Foundation: A World of Good!
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:
Saul's Investing Discussions

Gilead Sciences CC Thoughts
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 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.