I’m starting a new job and my employeer provides a 401K, but do not offer any matching contribution. since there is no matching what is the difference with a 401k through the company versus opening a IRA on an investment app like Betterment or Wealthfront? #finance #retirement
...19k tax advantaged $ per year in 401k on top of 6.5k per year in IRA?
Yeah, if you have excess income, put it in the 401k. It still has inherent benefits...?
Still use the 401k since you can get more money in tax deferred. 401k is still a great tool even if no match.
Do Roth IRA and HSA first if possible
Why IRA before 401k? Broader coverage of assets to invest in?
Following.
I would do 401k and IRA both.
401k is great if you are being matched and young, but you're not being matched and because of that you should consider taking control of your own retirement. What are your retirement goals? You have options, namely an LIRP aka IUL, forbes recently referred to Indexed Universal Life policies as a "wealthy persons IRA" namely due to the tax benefits, probate protection and liquidity. I would advise you speak with a licensed human, instead of dealing with an automated system, while it can be easy to get into something, it may not be the right thing for you. Whether it's a licensed finanical strategist/fidicuary like myself who specializes in estates/tax liabilities or another licensed pro, you should have a professional look at your situation, most do it for free.
There are some differences like you can take loan from 401k without incurring penalty (but end up paying back with pretax $), but for IRA it has to be a “hardship withdrawal”.