10-31-2007, 03:25 PM
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Greenhorn
Join Date: Jul 2006
Posts: 20
Rep Power: 6  |
Retirement planning: additional contributions toward 403b or Roth IRA or both?
I've done some research online and everyone says to contribute enough to max out the employer match to a 401k or 403b. My employer already contributes 12% to my 403b. I currently don't contribute anything but I'd like to start soon.<br /><br />My last thought was to open a Roth IRA, try to max that out (isn't it 4,000) and then put anything I can into the 403b (there's no way I'll ever max out that yearly limit).<br />added after the first response: yes, I'm very sure they contribute. It's part of the benefits package. There is no match, but they put in 12% and have been doing so ever since I began working (believe me I check every quarter!). So the principal is building up which is good, I'm just wondering where the best place to put my own contributions would be.<br />
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10-31-2007, 03:25 PM
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#2 |
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Greenhorn
Join Date: Jul 2006
Posts: 28
Rep Power: 6 |
Retirement planning: additional contributions toward 403b or Roth IRA or both?
Of course the more you can save the better, but are you sure your employer contributes 12%? Because usually an employer will contribute x amount only if you contribute a certain percentage. I would contribute to your 403b the highest amount that your employer will match then put the left overs in a Roth IRA. Don't miss out on any free money from your employer
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