Skip to main content

Posts

Showing posts with the label usatoday

401k, IRA: How to choose a retirement plan that’s best for you | For My Money

There are many different retirement savings plans – traditional IRA, Roth IRA, 401k. Here’s how to choose the one that will help you reach your goals. RELATED: The more money you manage to set aside in a dedicated retirement savings plan, the easier it'll be to make up for Social Security's limited buying power. Right now, you can contribute up to $19,500 a year to a 401(k) plan if you're under the age of 50, or up to $26,000 if you're 50 or older. If you have an IRA, the contribution limits are lower. But you can still sock away up to $6,000 a year if you're under 50, or up to $7,000 a year if you're 50 or older. » Subscribe to USA TODAY: » Watch more on this and other topics from USA TODAY: » USA TODAY delivers current local and national news, sports, entertainment, finance, technology, and more through award-winning journalism, photos, videos and VR.... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During I