401K questions on tax strategy?
401K questions on tax strategy?
I currently put away $50.00 a week in my 401.
My company matches about 30% up to the first $60.00. I was able to avoid any major loss this year by shuffling my money around. Currently I'm up a little over 6% for the year.
We have a multitude of investment options, most of which took a shellacking this year. I was able to move most of my money into what we call Stable Value. Which is from what I understand mostly Muni bonds and such -- Stable but low return.
I currently split what I put in as follows $20. pre tax $10. Roth $20. after tax. I'm not sure what the best strategy is on the tax end. What is better and why ? Please explain.
Yes Robert you are correct about the pre /post tax/ Roth. They are listed seperately on my statement as well as the selection process. I guess one is 401 and the other is Roth.
I will be 44 this Year so I would hope I have a few years.
Answers:
2009-07-02 17:47:13
$so fresh so clean$ (3 for 3): From what it seems, you have both a 401 (k) and a Roth IRA. You're getting the match with the 401 (k), but you're getting tax-free earnings with the Roth IRA. But to answer, the Roth is better for tax implications.
2009-07-02 18:01:47