Personal Finance Buzz

I’ve had a Traditional IRA since 2002. It was a great account to help me avoid hundreds in taxes during my early twenties. The Traditional IRA gave testking dumps way to the 401(k), which you testking 70-270 can’t contribute to at the same time as the Traditional IRA. Then, in 2009, I finally opened my first Roth IRA, which I can contribute to, along with my 401(k), as they are taxed differently. The contribution limits aren’t that high for IRAs. Not like a 401(k). That, in my opinion, makes it far more important to take advantage of the annual IRA contributions. Every year you pass this up is another year you can’t contribute a tax-advantaged sum to your retirement. A 401(k) is more testking 70-640 forgiving. With the 401(k)’s high contribution limit, you’d be able to catch up quicker with your tax-advantaged retirement savings if you started later in life. Not to say you shouldn’t also contribute to your 401(k) to at least get the match from your employer.