Do you have any recommendations on mutual funds offered through Charles Schwab? ETFs? Index funds? Individual stocks?
I have money in my Roth IRA, but I’m not sure what to invest in. Any advice would be greatly appreciated :)
#personalfinance #investments
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comments
1. 58k is the fed limit - 19500 - employer match is the amount you can put in after tax
2. then do a in plan conversion to Roth 401k(automatic)
3. followed by periodic conversions to Roth IRA
Why do you need to do 3? Roth IRA is better for contribution withdrawals before old age(don’t remember the exact number). Roth 401k has pro-rata withdrawal of contributions and earning. If you contributed 800$ and it grew 200$ and if you withdraw 100$ from Roth 401k, you will withdraw 20$ from the earnings and have to pay 10% penalty on the growth. Step 3 withdraws from contributions first so no penalty