{ "media_type": "text", "post_content": "What’s the advantage for roth 401k vs. roth ira? And is having all types of IRA and 401ks the best to save up investment?", "post_id": "6109d9c7499e53001c1bdaa2", "reply_count": 3, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

What’s the advantage for roth 401k vs. roth ira? And is having all types of IRA and 401ks the best to save up investment?

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

The general consensus is to do 401(k) up to the maximum match your company offers, then max out IRA, then back to 401(k).

like

You can put more in a 401k than an IRA. You could get a match in a 401k. That’s about it for benefits of a 401k over IRA.

If you truly think you will benefit from contributing post-tax, the Roth 401k is established by your employer and any contributions would be matched to your employers limit. An IRA is a self directed. Besides being employer sponsored, there are really no differences between the two as far as tax advantages go. Yes, having both an employer sponsored 401k and personal IRA are two of the best tax advantaged ways to save for retirement. You can max your 401k and IRA at 19,500 and 6,500 per year, respectively. Another way to save for retirement is to contribute to an HSA. If you have a high deductible insurance plan, you can contribute up to 3,500 per year. These contributions go in pre-tax, investment appreciation grows tax free, and withdrawals are tax free if used for medical related expenses—it’s triple tax advantaged. I personally max all three, but if I had to order how I would contribute if I didn’t max out all three I would do 401k to employer match, max HSA, and then IRA.

Related Posts

Random question. I have a parent who’s in the process of applying for a green card, so I don’t think they’re eligible to apply for free healthcare in NYC. Will I be able to add them as a dependent on my employer’s health benefits when open enrollment at my company begins? Even if they don’t have a green card or citizenship? For background, my parent had a G1 visa through work so was able to stay and work in America legally. They recently hit 65 so the job decided to not extend employment.

like

Seeking portfolio advice. 23 years old- 95k comp, 20k currently in market through the most basic Schwab index funds and Vanguard ETF’s, already max out 401k & IRA. My returns over the past year have been meager. I want to take on more risk and pick more concentrated investments. Whatever I go with, I want to hold them for the long run with no intention to sell. Any advice?

like

I have an interview with Guidehouse coming up. Any tips on what to expect? Also curious about pay for the senior consultant role in their healthcare practice. Guidehouse

like

Could use some structural layout help for a deliverable: Creating a one-page report that reflects a product offering, its benefits, and its significance (the ‘so what’) - currently only having multiple bullet points for each as the content, but think it’s not suitable aesthetically for a presentation. Any suggestions for how I should best format it for exec management? This isn’t a PPT.

like

Can you negotiate your time in the company? What I mean is say 401k vesting / matching happens in two year or vacation increases a week for someone with 3 years can I be credited with a year served in the system so that I can vest faster. I understand everything is in a system, so can they do a plus one to my count? I am doing this in case they come in at the low end of salary and can't raise salary. Trying to think of non monetary low monetary benefits to close gap

like

My job was affected by COVID. I’m have a T20 MBA, closing in on two final round interviews one for a well know pharma consulting firm and the other for F 500 healthcare company as a regional ops director. I like both companies equally but looking to taking a shot at MBB in the next two years. Any advice?

like

Accidentally over contributed to my 401k because i switched companies midyear and forgot to cap contributions in my new plan. What is the best solution for this?

like

I’m setting up my 401k contributions and would like to save up more. Do you have any tips if you’ve reached the $19500 limit or on track to hit it?

like

How do people feel about federalizing education. This would put teachers on the GS pay scale where federal employees with a bachelor's degree would all have a minimum salary and federal benefits.

like

Debating a good time to retire. Would $10m nw incl real estate be good enough a kitty if kids education is funded?

like

Me and SO are thinking of joining orange theory. Any discounts they offer for Deloitte, military, healthcare? Anyone have an idea on pricing in Jersey?

like
like

How long do you have to be at your company to qualify for their maternity / paternity leave policy?

like

Is it true that McKinsey & Company professional development doesn’t get 401K match or an annual bonus? Just base salary and the profit sharing? Please confirm!

likeuplifting

KPMG folks. I see the mobile expense reimbursement is $65 with an equipment. Is there a breakout between wireless service and equipment or it’s looked at in total? If I’m on a family plan and pay $20, can I get a phone that costs $45 so as to maximize the $65 reimbursement? Thoughts appreciated

like

What percentage of your salary do you/ should you invest in 401k? And how did that change with age and experience?

like

My Brother in Law is looking at contracting as a 10-99 consultant for a Healthcare IT manager / sr manager position for a client on a long term contract with the VA, managing a few dev teams. Any insight into what he should ask as his hourly rate?

like

What's everyone's thoughts on job hopping? How frequent is too frequent? Are there any benefits to frequent hopping?

like

I'm a benefits director at a large company, and we're adding a fertility benefit starting Jan 1. It looks a lot like Deloitte's program (just noticing Deloitte a lot in this bowl), though ours will be slightly more generous with lifetime maxes. I'd love your feedback about what your employers do especially well or poorly, just to ensure we don't have huge blindspots as we roll it out from scratch. Honest feedback from people who are on this journey is appreciated!!

like

KPMG vs. PWC vs. Accenture 401k plans? any comments on who is better and why?

like

Additional Posts

How do you feel about being a consultant when there’s more cutting edge tech jobs out there?

like

New to consulting. How should I structure my message to project leads to try to get staffed. How detailed to I need to be ?

like

Are big 4 FDD hours worse than big 4 audit hours?

like

Hi Fishes , How should I ask Deloitte USI HR to skip my interview for Bangalore location as I just got referred by my friend for gurgaon location. Is there a way so that i can skip Bangalore and attend gurgaon interview. Note : My Deloitte USI bangalore interview is on tuesday and for gurgaon referral i have just received the survey link.

like

Correct me if I’m wrong: People have complained about weekend work, but I just…don’t. I don’t reply to emails on the weekend. I do not work weekends. I reply on Monday to emails sent on the previous weekend, and state that I will reply to weekend emails on Monday.

like

Random question. I have a parent who’s in the process of applying for a green card, so I don’t think they’re eligible to apply for free healthcare in NYC. Will I be able to add them as a dependent on my employer’s health benefits when open enrollment at my company begins? Even if they don’t have a green card or citizenship? For background, my parent had a G1 visa through work so was able to stay and work in America legally. They recently hit 65 so the job decided to not extend employment.

like

Let's raise our glasses to corporate cards, a month of PTO, and rapid advancement. Cheers to public accounting.

like

Is firm travel back up to pre covid levels?

like

Seeking portfolio advice. 23 years old- 95k comp, 20k currently in market through the most basic Schwab index funds and Vanguard ETF’s, already max out 401k & IRA. My returns over the past year have been meager. I want to take on more risk and pick more concentrated investments. Whatever I go with, I want to hold them for the long run with no intention to sell. Any advice?

like

Any F🐠 at DTW wanna grab a beverage?

I’m currently out on medical leave but I also accepted a new position with B4. Is it Wrong to give my 2 weeks notice a week before returning to work? New firm wants me to start ASAP.

like

Recent graduate (class of 21) from the UW business school. I came across an open FT associate position at Strategy&’s deal strategy team and was wondering if anyone from S& would be willing to chat? I’m really passionate about consulting and have a major interest in the PE vertical so this was a huge surprise. I’ve been prepping for a couple of months now and would really appreciate the help/opportunity! Would send over credentials but not sure how! PwC Thanks!

like

I think my firm is going to be moving towards global flexibility regarding work from home. They won't force us to live in certain cities with offices. Where in the US is there a beach or beach town that gets all four seasons? Is such a thing possible? I love the ocean, but Fall is my favorite season.

like

I have an interview with Guidehouse coming up. Any tips on what to expect? Also curious about pay for the senior consultant role in their healthcare practice. Guidehouse

like

Could use some structural layout help for a deliverable: Creating a one-page report that reflects a product offering, its benefits, and its significance (the ‘so what’) - currently only having multiple bullet points for each as the content, but think it’s not suitable aesthetically for a presentation. Any suggestions for how I should best format it for exec management? This isn’t a PPT.

like

Thinking of hitting Arizona or Utah for some nature vacation for Labor day. Not exactly an avid hiker but I am pretty much in shape, so can take some beating. Any recommendations? Heard Havasu contd..

like

S3 here. Planning to move companies as my promotion this year looks unlikely. Can i pitch myself for a manager at another big 4? I have close to 9 years of experience and a masters

like

Anyone else notice the spikes in BTC and ETH at the exact moment the federal government shutdown? Bad for my utilization (I’m federal) great for my portfolio

like

BETC Paris for Creatives? How is the work life balance, culture, pay and do they hire from outside france?

like

What's the deal with bonuses at EY vs other big 4?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
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

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal