UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: JLC Big gold star, 5000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76387  
Subject: Re: Retirement planning and other considerations Date: 8/20/2000 7:22 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
<<<In your opinion, at my age is it best to use normal investing rather than 401(k) or IRA's? I realize that 401(k)'s offer FREE MONEY in most situations, but my current employer only matches the first $100 (small company). The problem with an IRA is that if I withdraw for any reason other than a home purchase I will be penalized, which will hurt the overall investment.>>>

Rule of thumb, do 401(k) to max of company match. $100 sounds small but with a $100 match you've doubled your money. The principle ($2000) put into a Roth each year can be withdrawn without penalty, something to keep in mind if needed for emergency or downpayment, etc.

As always, first get rid of debt then build up a little emergency fund.

JLC

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | 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