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Thought process on this? If a person needs to dip into their retirement plan because a start up fails then they would be penalized, if that's the situation it's
by withdavidli 12y ago
Thought process on this? If a person needs to dip into their retirement plan because a start up fails then they would be penalized, if that's the situation it's better to just keep it in cash.
- dustcoin 12y agoThe contributions to a Roth IRA (but not the investment returns) can be withdrawn with no tax penalty, so there isn't much reason not to max it out if possible. Employees should always contribute to a their 401k at least up to the company match, as it is essentially free money.
- astrange 12y agoIf you're getting paid at SV salary levels, it's entirely possible you're making too much to be allowed to contribute to a Roth IRA. Some IRA companies will let you do put it into a traditional IRA then do a Roth conversion, but then again some will make you mail them a notarized form every time you want to do that.