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Author: PEDRO007 Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 8892  
Subject: QUESTION Date: 8/10/2007 12:58 PM
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Hi!,
Guys,
I'm looking for some advice.
I had been contributing to my 401K but I would like to max out my contributions for the year. I was told that I can only contribute trough my payroll deductions.
Right now I'm short of $6,000.00 to max it out.
Question.
Should I open a Roth IRA and deposit the $6,000.00 from my savings or have them take a higher deduction from my paycheck and use the savings to supplement my income?

My employer do not match my contributions, so the only benefit I get is the pretax on the money they take out.
Question.
Do I have to participate in this retirement plan or can I invest that money in a better way for retirement and still get the tax deductions?
Any advice would be very appreciated

Thanks!
Sincerely;
Pedro
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