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401k-Roth IRA- company doesn't have matching.....????

Thread in 'Finance / Investing' started by jpm2953, Nov 6, 2019.

  1. jpm2953

    jpm2953 The Hen that laid the Golden Legos

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    So I currently have a 401K through my company. They don't offer any matching.
    I also have a roth-IRA. both are set to 2050 index funds.

    Is it worth me still contributing to the 401k or focus everything on the IRA? OR is it good to have both??
     
    jhunter likes this.
  2. eightnsand

    eightnsand ODT Junkie! Supporter

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    Go both. I personally don’t like target date funds it’s to easy for fund managers. Spread the risk. Check load fees. Good luck and go long. It’s a marathon not a sprint.
     
    Greg_D, Zeake and palmettomoon like this.
  3. ReganR6

    ReganR6 BMF Supporter

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    Somewhat younger here ,but I have been paying into 401k for a while ,but what is a ROTH-IRA?
     
    fast306stang likes this.
  4. Allsmiles

    Allsmiles The Hen that laid the Golden Legos Supporter

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    Do both if you can. Even without a match, the 401k can reduce your taxes owed today.
     
    Psilloh1 likes this.
  5. fast306stang

    fast306stang The Hen that laid the Golden Legos Supporter

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    How easy is it for you to track fund performance and also move money from one fund to another in the company 401K? If it's easy for both, I'd say that one is worth keeping.
     
    Bagman likes this.
  6. fast306stang

    fast306stang The Hen that laid the Golden Legos Supporter

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    But I'd also keep putting money in that ROTH. So I say both if my above post applies.
     
    palmettomoon likes this.
  7. fast306stang

    fast306stang The Hen that laid the Golden Legos Supporter

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    The advantage of a ROTH is you aren't taxed on your gains. But the money comes POST tax out of your check.
     
    Falcon1, palmettomoon and ReganR6 like this.
  8. wildbill59

    wildbill59 Tracker

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    Roth has a 6k max. 401k is 19k. With no company match max Roth first and then whatever until max into 401k.
     
  9. jpm2953

    jpm2953 The Hen that laid the Golden Legos

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    I wish I could come close to maxing them out. I’m a loooonnnngggggg way from that
     
    Moondog1 and CBH13 like this.
  10. CBH13

    CBH13 The Hen that laid the Golden Legos

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    i've always thought the same. i always heard from folks. "max out your contribution for your 401k". if i did that i would have a very nice retirement portfolio while living in a card board box