Wednesday, August 24, 2011
401(k) or IRA: Which do you fund first?
Sure, we would all like to max out our annual contributions to both our IRA and company retirement plan. But for those times that you can't, a recent MSN Money article suggests 10 questions to ask when you're not sure which retirement account to fund first:
1) Do you get an employer match?
2) Do you plan to stay with your employer?
3) Will you really save on your own?
4) How much do you want to save?
5) Which option offers the investments you want?
6) What are the costs?
7) Which offers better protection?
8) Are you planning to retire early?
9) Will you want to borrow from your savings?
10) Are you (or your spouse) not working?
Click here to read the full article.