Roth IRA and Traditional IRA are the other options ? Anything else
It is still profitable since it's untaxed
don't do if you have no green card
Why?
Roth is pretty safe since you can withdraw the contribution and only part a penalty on the gains.
Does Amazon offer Roth IRA or Roth 401k. It just says Roth deferral. Unsure what that means. Also which is better?
401k from employer. IRA you get on you own from any financial company, not through employment. You can have both.
Yes, of course. Whether you are on a visa or not, it's financially prudent to do so. Anytime you can contribute to a tax advantaged account, you should take advantage of it.
(not a financial advisor) (Some things I've learned from my DYOR. Feel free to correct anything I'm not right about.) Yes and you should. If there is a 401K offered at your company, then max it out as the contributions are pretax. Traditional IRA, (backdoor) Roth IRA in Cali are post tax contributions. You can create a Roth IRA that's called a 'backdoor Roth IRA' legally even if your annual income puts you above the qualifying amount by funding a traditional IRA and then using those funds to fund a Roth IRA. It's easy to do on your own, or with the help of someone at the investment company you're using. Your annual contribution is capped at the ~5500 (2018) traditional IRA contribution level and it's not tax deductible. Other (retirement) investment options are as a self employed entity, llc or s-corp and creating a 401K through the company, or creating a SEP. Once/if you have kids there are 529 plans (though also not tax deductible in CA) for educational expenses and limited to $ gift limitations (15k$ 2019 per parent). You're also able to 'super fund' these by contributing 5 years worth of 'gift contributions' at any point to start the compound interest early on.
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You can contribute up to the limit untaxed for both an Roth IRA and 401k even without employer match. Roth though does have an income cap to qualify. Also TC?
There is no income cap on Roth 401k (there is on Roth IRA). Quick Google search confirmed this.
Yea I meant Roth IRA