Answer to the question: Is it worth maxing out my 401k?
October 31st, 2011 Filed under: ira investing — Investing Author
Here a good question I found in the comments section of a previous post. ‘Josh’ asks us the question:
I am already contributing enough to meet my company’s matching program and am contributing the maximum to a Roth IRA. I know there are many opinions on this subject, but if I still have money left over that I want to dedicate towards retirement / long term savings, should I max out my 401k or invest “on my own”?Good responses so far, but what would be the benefits of investing “on my own” versus contributing to 401k?
Answer: You already max out your roth?Go ahead and max out your 401k Put as much away into retirement as possibleYou know that social security is not going to be around for anyone with a single dime to their name. You probably have your mortgage paid off – so I won’t question that
Tagged:Personal Finance
