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401K? Is it worth it?? Or should I look into other methods?
I'm trying to think of options for the best way to save for retirement. Is it better to invest in a 401k or should I look into an IRA, or other ways of passive income?
My field is one that rapidly changes and swaps employees a lot, I wasn't sure if enrolling in an 401K is more worth it or should I find other ways to invest my money?
Ruzana Glaeser
Co-founder of brightmeetsbrave.com
950
08/05/19 at 8:32PM UTC
I would strongly recommend 401(K) and HSA. We put into both and use HSA as future health-care savings. When people retire, medical bills and insurance costs are some of the larger bills. So we use HSA as retirement savings for health-related expenses and 401(K); primarily because many employers pitch into both 401(k) and HSA. Therefore, might as well take advantage of that.
Roth IRA is a good option as well, but I would do it after 401(k) match is maxed out as mentioned above.
Sweet Caroline
4.25k
08/05/19 at 7:06PM UTC
Always, over time it will build, I have not always worked for employers who matched, but even putting away my own money helped me save.
Lady PeleRetired Project Manager
3.96k
08/05/19 at 6:32PM UTC
If your company has any type of match on the 401k, at least put enough into it to get the match. You can roll it over to your next employer if you change jobs frequently. Once you have the match, looking into a Roth IRA.
© 2022 Fairygodboss. All rights reserved.