The ridiculousness of the transfer portal era personified

[untjim1995]

6 minutes ago, meangreenfaninno said:

Why would you advise a Roth IRA which makes you pay taxes when you are younger and in a higher income tax bracket?  Did you attend UNT business school?

Huh?

Did you attend UNT Business School?

A Roth IRA can only be contributed to for households with incomes that aren't anywhere near higher income tax levels. And you can only contribute $7000 per year or, if you are over 50, $8000 per year. 

A 401k lets you put away more per year and you often get a match.

[UNTLifer]

9 hours ago, untjim1995 said:

Huh?

Did you attend UNT Business School?

A Roth IRA can only be contributed to for households with incomes that aren't anywhere near higher income tax levels. And you can only contribute $7000 per year or, if you are over 50, $8000 per year. 

A 401k lets you put away more per year and you often get a match.

You can get a match in a Roth as well. 

[untjim1995]

4 minutes ago, UNTLifer said:

You can get a match in a Roth as well. 

Only if it’s a Roth 401k…which is different from a Roth IRA

[GreenEggs&Ham™]

Roth IRAs are good in that your investment gains are not taxable when withdrawn later. But you can only contribute $8,000/year max. A 401K is $30,000/year max. 

401K plans are typically not run well with only average offerings and high fees. But private sector employees have little else to save and invest in for retirement. If an employer offers nothing, then what does that say about an employer? How much the employer spends on a 401K plan is public record. They spend surprisingly little.

College football money has been manipulated in a similar way, with coaches & ADs receiving outsized salaries while players received little. This imbalance is the reason college football is in its current state.

 

[cousin oliver]

15 hours ago, untjim1995 said:

Only if it’s a Roth 401k…which is different from a Roth IRA

But Roth does not allow for very much money to be saved so it is very limited in scope.