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View Poll Results: Are you saving or investing for retirement?
Yes, and have been for a while. 19 51.35%
Yes, just started. 6 16.22%
No, but I'm about to start. 2 5.41%
No, I'd rather put my money towards other uses. 0 0%
No. I'm pretty young, so I'll worry about it later. 2 5.41%
No, but I wish I could. 5 13.51%
Nachos! 3 8.11%
Voters: 37. You may not vote on this poll

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Old 02-05-2012, 01:58 PM
Bailey08's Avatar
Bailey08 Bailey08 is offline
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Join Date: Aug 2008
Posts: 2,467

Originally Posted by CaliTerp07 View Post
It's not really a "do I do both" thing. You can contribute up to the federal limit (I think 50% of your salary or $15,500, whichever comes first) into a 401k of any kind. You can put that money in either a regular (tax-deferred) 401k, or a ROTH (post tax) 401k. It depends how much money you're expecting to be pulling in when you retire. My money is hedged on being in a higher tax bracket at retirement, so I'd rather pay the taxes now when I'm in a relatively low bracket. Hence, our money goes into ROTHs.
To clarify a bit, you can do both a 401k and a Roth (traditional or IRA). They have different limits.

I'm maxing out my allotments but all the retirement calculators tell me I need to be doing more (personal investing). Boo. Retirement is freaking expensive!
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