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I'm on my way to the deep South and am starting a new job unfortunately it is a small company and at this time does not offer a 401K plan. In the job I just left I allocated an average of 15-20% of my salary. I have a Roth but I'm limited as far as I know to what I can contribute.

Is there a limit I can contribute to my Roth? I thought it was 6K and I'll have about 30K annually to invest in whatever I choose.

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

Thanks for your input.
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You could open an IRA or Roth. If your income precludes you from investing in one of those vehicles, you could still invest through a regular brokerage account.


Donna (who has a SEP-IRA, Roth and brokerage account)
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Donna,

I do have a Roth which I mentioned and an IRA which I didn't but there is still dispoable income that I would like some structure to invest in.

This board is full of ideas and have appreciated the input in the past.
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You can contribute up to $5000 if you are under 50 years of age, $6000 if you are 50 or older. If you are married, you can contribute the same amounts on her behalf to her own IRA. You can contribute these amounts all to your Roth IRA, all to your Traditional IRA, or split them between the two types of IRAs so that the total contribution totals no more than your individual limit.

Fuskie
Who encourages you to look at your whole retirement portfolio when deciding in what to invest and not just each investment vehicle independently...
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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.

AJ
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Another option would be to talk to your employer and fellow employees and see if you can gain their support in getting your employer to offer a 401k - or perhaps as a compromise, a SIMPLE IRA.

Your employer could offer a SIMPLE IRA at no cost to them - if your peers would be willing to give up 3% of their salary to the plan. The employer must contribute to the plan and the employee is not required but if your peers will take a 3% reduction in salary, the employer could instead pay them in kind via the new plan. IIRC, the minimum required contibution for the employer is 3% for FTEs that have been there a year. Max contribution is around $12000 so much better than doing an IRA on your own - and you could still do a Roth on top of this.
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Encourage your new company to start a simple Ira. Think the limit is 11k. This is easy and cheap 4 small firms compared to 401k plans.

Problem is you Can't Contribute as much as 401. Just another way the government screws the little guy I guess.

I can't see why the limit couldn't be the same.
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