Skip to main content
No. of Recommendations: 0
Chicago Mike sayeth:
<I think we need to bring this Roth love-fest back down to earth. I've seen some statements made here that are a little too inflexible for my liking. <snip> <We both have excellent 401Ks with company matching that we contribute the maximum matched percentage to each month. For us, adding more retirement savings doesn't make a lot of sense. >

I'll offer a contradicting point of view here. My 401K plan is administered through Fidelity, which presently doesn't have a fund that is offered to me that can sniff even the S&P index. I was pouring 15% (the max) into it because until the Roth IRA, it was the best available option. Now I'm cutting back a couple of percentage points on the 401k, and adding $2,000/year into a Roth, which is self-directed. I can now choose how I'd like my money invested, rather than rely on Fidelity for underperformance. If my investments can't beat the market, at least I'll be able to blame myself. So really, I'm not adding more retirement money, just utilizing it in a different way.

DougFool
Print the post  

Announcements

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.
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.