• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Roth IRA: Who's got one, and with whom?

T

theNEOone

Diamond Member
My employer currently has a 401k plan with John Hancock that is expiring. We're not renewing because the cost is too high for our company, which is small. I will need to start my own personal retirement account. I'm young and don't have much in my IRA so I'm unable to go with an individual account at John Hancock, which has a $10,000 minimum (I believe).

Anyone here want to make any suggestions as to where I should park my money?


=|
 
be very careful when moving around your retirement money, because one mistake and the big ugly tax man will come after you.
By the way a traditional IRA or 401k is Pre-tax money
a Roth IRA is for after tax money.
so if your going to roll your 401k to a roth IRA your going to have to pay taxes on all of it first. I'de advise rolling it over to a regular IRA so you dont have to pay taxes on it, just make sure you do it the right way when you roll it over or you might end up getting taxed or penalized.
 
I and my wife both have a Roth. With Schwab. Haven't invested into it the last two years but that will change quickly when the house is paid off....soon! 😀
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top