Should one open a Roth IRA in addition to their 401k?

like
Posting as :
works at
You are currently posting as works at

Yes, max out both

like

Back to the Roth question, contribute to your 401(k) up to the company match, then contribute to a Roth IRA (if you're under the income limit) up to the annual limit, then look at other investments like Real Estate or whatever.

The reason is (1) the company contribution is like an instant return on capital which will compound for decades, so take it, and (2) a Roth because it's not taxed when you take it out at retirement, when your marginal tax rate will be highest.

like

I do Deloitte 6% but it's laughable. 1.25% of your salary lol

like

Good question, I currently contribute to both and have a total of 15% split evenly among both options. I like being able to have after tax and pretax money saved for retirement

If you're under a certain pay level yes. Otherwise you can't use Roth IRA

Your current self will be sad at putting away money that you can't spend now, but your future self will love you when you retire

At 59.5 fuck that.. Real estate is the way to go

It is an interesting concept, everyone says to be poor now and rich later, yet you can't really 'get down' when you're sixty plus. I say a healthy mix, enough to know you'll be ok and try to make smart choices now with your real estate options

In places like LA, people can make 100k/yr in appreciation, flipping, etc in the real estate market. This is with just one house, your primary residence. But a mid market house, fix it up, move in two to three years and just keep trading up.

Related Posts

What blogs/books/resources should I seek out if I want to make the transition from passive trading (index funds/buy and hold blue chips) to more active trading (options, speculation, spending a few hours a week researching, etc)? I’m looking to turn my investing into more of a side hustle

like

Looking at exits into pharma and biotech. Have an opp at a biotech at the SM level. Total comp excluding equity is around $190k; RSUs vest over 4 years with annual refreshers, so first year equity would be around $6,200 and it would go up by $6,200 each of the next 3 years, plus whatever base bump I get. Very good benefits package.

They envision 2-3 years before I jump either to AD or right to D. Solid opp? Or hold out to go straight to director level?

like

What's the most effective way for a small RIA to recruit FAs who have a few years experience, want to break away from large/corporate firms? I'm a $70M fee-only (commissions for insurance) independent RIA with a generous comp schedule that enables FAs to own their own book while they grow. As the owner, my focus is to help FAs succeed; as a firm, our focus is on client service and helping them succeed. I can afford a small salary, but not benefits. I'm especially interested in female FAs.

like

Any healthcare executives here?

like

Any body use cred app to pay credit card bill above 2 lakh via cred app using debit card option?
Will it reflects immediately tomorrow is my due date for bill payment.

like

Had some credit card charge offs come up from U4 review and I didn’t payoff. Not proud of it from when I was younger but they’re off my report since it’s past 7 yrs but still within the 10 yr U4 review period. Will this impact employment?

like

Minimum base salary to afford 850k home in DFW area assuming you already have money for 20% downpayment?

like

How do you invest your bonus? For context have ~40k in student loans (~4.8% rate), not interested in a house/apt purchase anytime soon, just want to save up for ~major life events~, have a little bit of money for fun and invest most of it. Any tips on percentages etc?

like

*Keeping an eye open for new opportunities*
I have my Bachelor's degree in Healthcare Administration along with 13 years of experience in healthcare. My experience ranges from medical coding, biller/AR specialist, patient financial advocate, and since 2019 my role is in the Quality department as a health care data analyst.

like

Hi, looking for some advice. I’ve been a medical assistant for 10 years, and am finishing up my bachelor’s in healthcare management. However finding hard looking for practice or office manager positions, as they’re looking for people with 3+ years of management experience. How can I get an organization to take the chance to invest in me and give me the opportunity to prove I have what it takes. We all have to start somewhere.

like

Hey all, I would love some advice - I have been in healthcare for 10 years and recruitment for 4. I am looking to transition into tech recruitment but it has been difficult. Any advice on how I can start developing skills to make me more of a viable candidate?

like

Hi, does anyone know much about the benefits/comp/culture at Oliver Wyman Singapore and how it might differ from HK? Also, would like to know what are the main industries they focus on in SG (is it FS)?

like

Can I pay a State Farm auto loan with Plastiq to meet Minimum Spend on AmEx? Worried I won’t hit the 5k on regular spend.

like

I lived and worked in the US for 5 years with H1B. I currently live outside. I still have my US credit cards and bank account open. Will it cause me any trouble in the future? should I close them all? The reason I don't want is I want to keep my money in the US.

like

I retired from teaching in an online Bachelor of Science program after six years last year. Also, I have 12 years of hospital and managed care case management. I have three years writing appeals for denied hospital claims. I decided I do not want to retire. I am looking for a new opportunity to work remotely. I have attained a Master of Science in Nursing Education. Please hire me!

like

Anyone from Allied Benefits LLC know the salary for a Reimbursement Specialist?

like

What salary range should I expect for a position as a benefits assistant at at high ranking global law firm? (NYC)

Are all large healthcare provider organizations (big health systems) messed up? In terms of poor senior leadership, no accountability, poor support to their leaders, mismanaged, etc.

like

I was under my moms healthcare policy until she lost her job in February. Am I able to enroll with EY even though I’ve missed open enrollment?

Any experienced nurse practitioners in NYC area looking for a hospital based NP position in Manhattan, DM me. Pay from 130-150 ish. Great benefits

like

More Posts

Favorite Non-Fiction captivating podcast?

like

Anyone open to giving referral at Amazon on for an MBA internship.

Seeing a lot of ppl talking about MBA sponsorship who are from consulting firms. Any idea if IB also offer sponsorship for B schools? If so, how does it work?
Starting soon in IBD could be helpful!

like

Looking for a new head phones/ earphone for running/work/travel.... any suggestions?

like

Hi Fishes

I work at MS in Global Compliance Governance and Monitoring Team as a Analyst. It's an Individual contributor role. I have 2+ years of experience and my current CTC is 5.8lpa in Mumbai. Please suggest what should be my salary considering the experience and company/role.

like

Anyone at Oliver Wyman able to take a quick look at my resume before I apply (entry-level)? I’m also open to referrals

likefunny

Is it a good thing or a bad thing that the Cheif Operations Officer of Regional Operations friended me on linked in? I'm one of the lower level employees in the company, and he's not connected to anyone I know. 🤔🤔

like

Hi folks,
I want to learn java from scratch but i have good amount of basic understanding about it. but the confusion is can I join any online course or institute or learn it by myself by watching youtube if I leaning it myself we know how the time will be wasted and we might focus on other office works etc..most of the time haven't following the time line those who have learned please give your suggestions and tips. Thanks.!

like

Hey fishes. Wanted to know your thoughts on adding recruiters on LinkedIn and messaging them for advice? E.g. is it cool for me to message an OW recruiter to help me out with my application?

like

What’s better, working for an M&A advisory group or doing M&A transactions in banking? I honestly have no idea what the key differences are.

like

Blue shield of CA fired 375 people. Any other insurance companies having massive layoffs?

like

What does chief of staff do? Is this a similar role to a senior consultant? And how much they make?

likefunny

Hi I am a cath lab tech. I want to look into traveling but have some questions. Anyone aware of any groups to discuss housing, location, etc?

like

Don’t know if anyone’s on this thread but I’m a 24 year old female looking for another female roommate. There’s really nice 2 beds in the wicker park/bucktown/Logan square area for under $2700. DM me if you’re interested!

Hey guys, does anyone know how much compensation progress is like in Australia for any of the top firms? Specifically interested in MBB as I am intending to join one

like

If anyone is interested in taking a summer trip to Myrtle Beach from 7/29-8/5, I am renting out my timeshare with Marriott's OceanWatch Villas at Grande Dunes. This resort is right on the beach and offers many fun activities for the whole family! The two-bed, two-bath condo has a fully furnished kitchen and can fit up to 8 people. I am ideally looking for someone to rent it out for the entire week for about 3K total. Message me for more information!

Post Photo

Anyone watched ‘I Love Dick’ on Netflix? Binged last night. LOVE IT! Thinking of posting in main bowl to freak the guys out!

like

Which firms are actively pursuing work in Pakistan these days? I am aware of McKinsey but who else?

Any ideas for a side hustle using financial analysis/risk management skills? On a freelance basis probably.

like

Just finished Indian Matchmaking. Has anyone else watched it? What are your thoughts?

like

Additional Posts in Consulting

Accenture peeps what is typical raise % from C to M in strategy?

like

Bachelor party at Riu peninsula in Cancun. Who's been there? Trip advisor says it's pretty good. Wanted to hear consultant opinions.

like

Are there non-FAANG companies with comparable compensation & WLB? It seems impossible to break into FAANG.

likefunny

I am irrationally bothered by the fact that people overlay text boxes on shapes in ppt. There are textboxes embedded into the shapes!!

likefunnyuplifting

Best technical skills and learning opportunities for corporate finance?

- VBA, SQL, Python (Coursera/LinkedIn Learning)
- Quant (R)
- Hyperion or other apps (work)
- CFA study (books)

like

Is a Principal is BCG same as an Engagement Manager at McKinsey?

likehelpful

Classpass vs. Lifetime vs. LA Fitness. Which is the best and why? Gracias.

Hi All - I am in the last stage of interviewing for Booz Allen. I’m an aspiring consultant transitioning from industry (healthcare). BAH told me the position itself is full time but it is “attached to a contract.” Should I be worried that I would lose the job if and when the contract ends? Would love insight from current or former BAH folks

like

Looking to get into Facebook privacy legal team. Have experience as a consultant at another FAANG company. Anyone willing to provide a referral or discuss further?

like

After a year using my home office setup, especially the 27 inch monitor, how can I ever go back to the traveling life with tiny laptop screen? 😔

likesmart

How do you figure out who your spirit animal is?

likefunny

Starting a new job next week. How soon is too soon to ask for tuition reimbursement? 😅

like

Thoughts on Oliver Wyman? Give me the good, bad and ugly.

like

What’s the ultimate career checklist? (Cont.)

like

2nd year senior using another offer as leverage to be made manager. Realistic?

like

Fellow consultants, what are some notable characteristics you’ve observed of managers that are both effective and well-liked? Any book recommendations for how to be a good manager?

like

Have two offers. How do I tactfully pit them against each other to get a higher total comp? I don’t want to just say something like “best and final offers”... but it’s what I’m thinking in my head

likehelpful

Slalom 🐠 , what’s your WLB like? I have seen some of you posting good things about your WLB. Should I try to make a jump? I like the intellectually fulfilling part of consulting, but the overscope and culture issues at current employer overshadows that. Maybe there’s a consulting firm out there with good WLB 🥸

like

Anyone ever move to a city they’ve never been to? Where did you move to? How did that work out for you?

likefunny

Thoughts on visible tattoos? Visible like something on the forearm, not a face tattoo or anything. I've been toying with the idea of getting one, but don't want to put serious thought into it if it's a def no in the professional environment still. I'm a woman

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal