Investments are all in low cost index funds with the majority being in total stock market, and the remainder in total international market, total bond market, inflation backed securities, and REITs. Open a brokerage account. I feel more comfortable knowing someone else isn't getting rich off of my money. For the short/medium term you can open a taxable brokerage account and invest the funds in whatever level of risk index fund you feel like. Mutual funds or ETFs for taxable accounts? Otherwise aside from more mutual funds, there's real estate if you want to go that route. ETFs are cheaper to invest in than funds - you only need enough to buy one share. If you are otherwise following the Prime Directive and your employer doesn't allow it, then taxable brokerage. You should have your pick of 10 or so mutual funds that each … I max out their 529s (10k can be deducted from State tax). Outside of that, the condo is in pretty good shape as I have upgraded the bathroom in 2016 and the kitchen in 2010. Once you have bought into a fund, you can set up regular recurring contributions of a specific dollar amounts. I was thinking about doing that in the spring. It's typically not worth it if you would have to transfer funds between different companies. BTW, great job on your personal financial planning. I have an emergency fund of $30,000. Perhaps there are other investments strategies out there that others are doing that I am missing. It nice to hear that I'm doing the right things. I'm needing investment advice on where to put my money. Cookies help us deliver our Services. Invest in Bond Funds or Tax Free Municipal Bonds. Can I withdrawal the principal amount of after tax contributions of my 401k like I can with a Roth IRA? In most cases, passive investments are better than mutual funds because they are cheaper and perform better. Thank you again. So I was thinking about a 529 as there are some tax savings at the state level. There isn't much of a benefit to after-tax 401(k) contributions unless you can do a Mega Backdoor Roth. Index funds and ETFs are more tax efficient than actively managed mutual funds in taxable accounts. I'd split your money across a few brokerages. Doesn't really matter. Get $5k in your top choice then move to the next. Just a little background. The main difference I’ve seen is that brokers will allow you to automatically invest in mutual funds, but not for ETFs. Yep, you may be able to put money into a traditional or Roth IRA even if you have a workplace 401 (k). I was just trying to diversify outside of the market. Different fund companies also have different glide paths (at what age they shift allocations from stocks to bonds). VTTSX or VFFVX (target date fund) expense ratio, FXAIX or IVV (S&P 500 index mutual and ETF fund), FSKAX or FZROX (total stock market mutual and ETF fund). Join our community, read the PF Wiki, and get on top of your finances! It also depends on what funds you have in the 401k. If your 401(k) plan is a dud, you have better options. I have my IRA with Vanguard, plus a rollover from a 401k that I had from an earlier employer, so I wouldn't necessarily be diversifying across brokerages. Vanguard/fidelity/schwab are equally fine. I've done a little research but they seem like a complicated instrument and each product has different variables which makes them hard to compare. Press question mark to learn the rest of the keyboard shortcuts. One is to just sock away more of your discretionary income into straight up savings accounts to help pay for your kid's college education. Someone people like Vanguard because they invented the index fund and they have such a large share of the market. That's another ~$7k not subject to tax. You mentioned vanguard/fidelity/schwab are equally fine but this link compares VFFVX vs FDEWX 2055 target date funds for each broker. Also, they trade like stocks so you might get different prices depending on when you trade. I've been pooling any extra money into my brokerage (ETF's / passion funds... clean energy for example) and have done really well so far. Similarly to how a ROTH IRA lets you withdraw your money -gains without penalty? Longer term, you could just invest it in the same funds as your Roth IRA and/or 401 (k) … You can invest $6,000 a year ($7,000 if you’re 50 or older). If your employer offers a HSA and you like that type of healthcare plan then you could also max that out. I hear ETFs are more tax efficient though I don’t really know how significant those savings would be? Fully fund your HSA? ETFs won’t generate taxable events until you sell them and are the way to go in taxable accounts. Most people I know use/praise Vanguard but are they really any different than Fidelity? So, if you’d like each paycheck to put some money into your brokerage account and for it to be seamlessly invested, mutual funds are more supported. I will look into contributing into a HSA. I have accounts with Fidelity, Vanguard, and Schwab. Here are the funds that I’m considering investing in, any input or thoughts would be appreciated. Sadly, some 401(k) plans don't have great investment options. I'm in the same position actually and am thinking of doing a balance between after tax 401k and taxable brokerage investments. Mutual funds or ETFs for taxable accounts? I guess 64k annual income at retirement wouldn't be bad if I keep doing what I'm doing. 4. A taxable account has more trading options but you'll be taxed now if you make sales. I am also not opposed to getting into real estate...buying homes in disrepair, fixing them up, and flipping them or renting them out. Look at the website for the funds you are considering. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. A financial advisor may be worth it for large amounts of wealth, complex financial situations, or for those who truly don't want to do the bare minimum with their investments (eg a 3-fund portfolio). Unless you qualify for Vanguard's higher tier support levels. I wouldn't mind an early retirement though so I guess that I might need to work on increasing my earnings by starting a business or get into real estate management. I'm in my early 40's. Suppose you start maxing out your 401(k) at 25 and you invest it aggressively, meaning primarily in stocks. My question is what is the most logical step for stashing my money, not including the 529? If I were you I'd skip annuities. Your 401(k) and traditional IRA withdrawals, on the other hand, are taxable. I just know a coworker, who is pretty wealthy, just purchased an annuity. If you can start withdrawing from your 401k when you're in a lower income tax bracket, then you've successfully conducted some tax engineering to boost your wealth. You should be able to remove excess contributions and put them in a self directed Roth IRA, I do this with an Ameritrade account, I already do this, my IRA is maxed out for the year. I have an emergency fund of $30,000. If you have extra cash to invest after maxing out a 401 (k) or other retirement plan at work, it’s wise to consider your options. Doesn't matter. For 401k accounts, this amount currently stands at $16,500 a year if you are under age 50, and $22,000 a year if you are over age 50.For Roth IRAs, the limit is considerably less. There are other reasons to reconsider maxing out 401(k) contributions. The short answer is that index funds or ETFs are preferred for taxable accounts. I guess I wasn't very clear in my post. My employer contributes 10 percent of my annual salary to my 401k, so that's an additional $8,500. So, if you still have money you want to save after filling up your 401(k), our research shows that you should follow this pattern: Roth IRAs After you’ve maxed out the company match, then … All of the rebalancing the fund managers do will generate taxable events for you. I honestly can’t decide between Fidelity and Vanguard as my main broker. Investing After Maxing Out Your 401 (k) Those who have contributed the maximum dollars to their 401 (k) plans can augment their retirement savings with the following vehicles: … My contributions to both retirement accounts are $23,500 per year. You mentioned that index funds and ETFs are more tax efficient, but aren’t index funds the same as mutual funds? Clients regularly ask whether they should max out a 401(k) — and sometimes they’re surprised by the answer, says Jeff Weber, a certified financial planner and wealth advisor at Titus Wealth Management. If you have a HDHP, be sure to max out the HSA account too. Broker doesn’t matter much anymore. Say $5k? Does Fidelity’s Target Date Funds have the same investment allocations as Vanguards? Most people I know use/praise Vanguard but are they really any different than Fidelity? Add in social security, and your take-home income in retirement is scheduled to be significantly higher than it is now! Most investors will have three options: a Traditional IRA, a … Your investments grow at 8% per year,which is a pretty good 401(k) rate of return . It shows them as having pretty much equal yearly returns but if you click on the actual link below for FDEWX those yearly returns change and are actually much lower? Fidelity has cheaper funds to compete with Vanguard. There is an IRS limit on the amount of aftertax money that can be contributed to a 401(k), but your employer may not allow you to contribute more than the federal limit of $19,500 for 2020 and 2021. After annual IRA and 401(k) contribution limits are reached, some additional opportunities for tax-deferred investment remain available. With a 4% withdrawal rate, that gives you $64K of pre-tax income at that time. Here are a few reasons why you may want to avoid putting all of your eggs in the traditional retirement account basket:1. Health care expenses paid from your HSA are triple-tax-advantaged. The problem with the 401k … By the 3rd one you’ll likely have more thoughts on where you’d like to go. Otherwise there's nothing wrong with keeping it simple with mutual funds. Next month will be my first month without a mortgage. I am a bot, and this action was performed automatically. Also wanted to plug Schwab index fund ETFs in addition to the Vanguard and Fidelity ones you mentioned, super low expense ratios, no transaction fees and no minimums. Any of those should be fine selections. More posts from the personalfinance community. I'm not convinced there's a need to diversify across brokerages. It seems from your advice, as well as others, that annuities may not be the best option out there. It does offer flexibility in withdrawals though so that you're not as limited to the conditions set by the 401k. Thanks for the advice! But after that, adding an IRA to your retirement mix can provide you with more investment options and possibly lower fees than your 401(k) charges. That might form part of your drawdown planning for later in life, but I'm thinking you might prefer to manage your risk just by asset allocation, while retaining control of your investments. Many financial advisor charge 1%+ of your portfolio per year, and they often work for companies that are partnered with specific funds. I guess that I'm on the right track and the plan is just open another brokerage account with Vanguard (My IRA is already with them) and look for opportunities in the real estate market. Lastly, you mention figuring out my risk tolerance and changing my investments accordingly over time. Mutual funds are a nightmare in taxable accounts. I'm in my early 40's. Why jot set a goal amount per fund and then move to the next? They show how much is domestic, international and bonds. Now I’m trying to figure out how/what to invest outside of pre tax 401k and my Roth IRA. Some people pursuing FI like VTSAX only. My 401k is currently with Fidelity and they generally have lower expense ratio funds. A few I have heard of are a non-deductible IRA, a Health Savings account and an annuity. Some people like the 3 fund portfolio, in which case, they say total market domestic stock or international stock is better for taxable accounts and you'd have got consider your entire portfolio as a whole. If your employer offers an HDHP, open an HSA. (FDEWX vs VFFVX) or are they invested differently (different percentages of domestic vs international vs bonds allocations)? You can go a few different directions. That is actually good advice that I never really think about. That means a financial advisor must do that much better than a self-managed portfolio, which if you can create even a basic 3-fund portfolio, you're highly likely to perform the same as a financial advisor's portfolio. I was thinking about opening a regular brokerage account through Vanguard, but it seems like I would be putting all of my eggs in one basket, so I was looking for some diversification. My total net worth is $325,000 including my paid off condo ($100,000). Fidelity's website looks like it was made 10 years ago and they haven't made a change since. All have no cost trading for etfs and whatnot. Your eggs are really in thousands of baskets based on your investing approach of using mutual funds. What’s the deal with that? I was looking at annuities, but I don't know too much about them. FXAIX is a S&P500 index fund but you can buy dollar amounts do doesn’t that make it a mutual fund and less tax efficient? Vanguard's minimum investment is $3000. Vanguard's website is better... but I hate how they hide their login flow so you need to scroll and discovering basic things is frustrating (like how do I link a bank account or what number can I call for help?). With regards to mutual funds vs ETFs, there are some minor differences. Withdrawals of Roth IRA contributionsare always tax-free along with an… So I think that I will stay away from them. Mutual funds often require higher minimum amounts, often up to $2500, though that probably won’t matter to you if you’re maxing 401k and IRA. Looks like you're using new Reddit on an old browser. I've recently paid off my mortgage, maxed out my 401k (first year in 2017), and Roth IRA … … Invest in a College Savings Plan. If you get locked out of one account b/c their system is down or they made a mistake, you don't want to lose 100% access to your money. Please contact the moderators of this subreddit if you have any questions or concerns. Beyond these, I'm also building my daughter's ABLE account (up to $100k, not subject to Social security income limits). If your goal is retirement or long-term wealth accumulation, Guay recommends stashing any extra savings in a Roth IRA, which is a tax-free investment account. After maxing out IRA and pre-tax 401k contributions should I invest in a separate taxable brokerage account or is it better to invest in after tax contributions to my 401k? I have a few upgrades at the condo left to do, notably replacing the sliding patio door and a couple of windows. Thank you for the advice. The great thing about a 401k is that you are contributing with pre-tax money. I appreciate your advice. Vanguard doesn't support software MFA (only SMS or a hardware key). Any suggestions? I guess ETFs are slightly more liquid as well. If I was to sell shares in current funds and reinvest them would I have to pay capital gain taxes even if I don’t withdrawal from the account? Tax-free withdrawals from a Roth IRA are most appealing if you expect to be in a higher tax bracket in retirement. ETFs are slightly more tax efficient than mutual funds, but not by much. If you don't like the allocations, you can invest in the individual funds and create the percentage you like and change your allocations as you like to do it. I think just adding a taxable brokerage account that forms part of your portfolio would be a lot less time consuming. You need to figure out your risk tolerance, your goals and how much effort you want to put into this. or is it better to invest in after tax contributions to my 401k? The after-tax 401k will defer any taxes and can later be rolled into an IRA, or an in-service rollover to Roth 401k if your employer allows it. Contribution Limits As some of the wealthiest Americans are well aware, there are limits on how much you can invest in tax sheltered accounts. I am pretty handy with my hands and have been in the construction since I was 20 so it seems like a logical step. Thank you for the advice, especially on retaining control of my own investments. IRA vs. 401 (k) contribution limits In 2017 you can contribute up to $18,000 to a 401 (k) account, plus a $6,000 catch-up contribution if you're 50 or older. Some people want to set it and forget it and pick a target date fund. Assuming your retirement accounts currently total $195K and earn a 3% real (after-inflation) rate of return, you're on pace to have ~$1.6 million in 2017 dollars in your retirement accounts in 25 years. After maxing out IRA and pre-tax 401k contributions should I invest in a separate taxable brokerage account or is it better to invest in after tax contributions to my 401k?Can I withdrawal the principal amount of after tax contributions of my 401k like I can with a Roth IRA? You're looking at 2, 3, 4%+ of your portfolio gone each year to using a financial advisor. What to Invest in after maxing out Roth IRA and don’t have a 401k nor can I contribute to an HSA. My company does allow for after tax 401k contributions. Flipping homes as you describe can certainly be lucrative (risky, too), but it's a significant time commitment. Maxing out a retirement account contribution means that you've contributed or deposited the maximum amount that's allowed to an individual retirement account (IRA) or a defined … Bond funds can give your portfolio exposure to a … Make sure to understand the difference between actively managed mutual funds vs passive investments through either index funds funds or ETFs. $500 to setup a portfolio and understand how to maintain it year-over-year is valuable enough. Both agree and disagree. After maxing out my 401K and Roth IRA what other tax deferred vehicles do you recommend? A Roth IRA isn’t deductible, but that can work to your advantage if you expect your income to go up over time. If you go with a traditional IRA, You might be able to deduct the full amount of the contributions if you or your spouse participated in a retirement … any input or thoughts would be appreciated. “Most people think that putting extra money aside for retirement i… If a financial advisor must be used, try and find a fee-only fiduciary that does not make commission, but instead only charges a per-service fee. Can you withdrawal the principal amount of your after tax investments into the 401k without penalty? For 2021, you can contribute up to $6,000 to a Roth IRA, or $7,000 if you’re age 50 or older. Any other reasons why ETFs would be better than mutual funds? With my lifestyle, my monthly discretionary income is roughly $1200. If your emergency savings is up to snuff and you've looked into an HSA … Investing I just opened my Roth IRA through Vanguard this year and contributed the max $6k as well … The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. The after-tax 401k will defer any taxes and can later be rolled into an IRA, or an in-service rollover to Roth 401k if your employer allows it. It also depends on what funds you have in the 401k. If your retirement plan at work is burdened by high fees and expenses or has a lackluster investment lineup, it may not be worth going … Maxing out 401k Roth IRA and have around 9 months of expense in Savings Account .Planning invest rest of my paycheck after expenses .YOE : 2.5TC: 180kI can save around 5k a month after taxes , expenses, 401k and Roth IRA … I believe you can't set up automatic investments, you have to do it manually and you have to buy full shares. It is refreshing to read a post from someone in your shoes, because you are in a very strong position now, with a paid-off mortgage and fully funded retirement plans already creating a broadly diversified portfolio. Not only will most people pay 1% on their portfolio in commission each year, they're likely to be put into funds with high loads and high expense ratios. I hear ETFs are more tax efficient though I don’t really know how significant those savings would be? I'm boring, so I like investing directly into index funds. The significance in savings depends on the specific funds you are comparing and your income (since short term gains are taxed as ordinary income rates). Press question mark to learn the rest of the keyboard shortcuts. Press J to jump to the feed. The real estate thing is a good option if you're not moving away at some point in the future. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. It's especially good if you're looking towards early retirement - just need to make sure you're getting positive cash flow. I am a bot, and this action was performed automatically. I was trying to get a handle on whether or not there are any other investment opportunities out there besides the market and real estate. Paying for a child's college education can greatly impact your nest … So you’ve hit $25k/yr at least and want to do more. Please contact the moderators of this subreddit if you have any questions or concerns. Note that there are differences between index funds and ETFs. Join our community, read the PF Wiki, and get on top of your finances! Pick what you like. While you’ll be grateful for what you save now once the time comes to retire, it’s important to think of the big picture: What other goals do you have between now and then? If I was to do that would those contributions avoid the mutual fund tax inefficiency since it’s in a retirement account as opposed to a brokerage account? I. I honestly can’t decide between Fidelity and Vanguard as my main broker. The higher the tax bracket you are in, the more tax savings you will have. I'm needing investment advice on where to put my money. You kind of hit the nail on the head. Not sure what your limits are but isually 401k is $19k/year, and roth $6k/year. You'll have to confirm with your employer. I have ~6mo emergency saved in my personal bank + maxed 401k + maxed Roth IRA … To have a paid-off home and contributing $32K per year (including employer match) to retirement accounts on a salary of $85K shows wonderful dedication to building a great financial future. I’d agree with the earlier comment of vanguard, fidelity, or Schwab. Flipping houses sounds to me like a lot of work, but if you have the skills and are interested enough for it to motivate you, it's something you could think about. By using our Services or clicking I agree, you agree to our use of cookies. Does your empoloyer allow inservice rollovers, allowing you to megabackdoor roth? I do have a kid who will be going to college in 4 years and haven't really saved for that. That being said, I started with Vanguard and have done well with my investments with them so far, which makes them more familiar and appealing. I honestly don't know any situations in which they're the best option. Thanks again! Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. So I was throwing it out there. With a traditional IRA, you get the benefit of a tax deduction on the contributions you make and you don’t pay any taxes on the money until you start making qualified withdrawals in retirement. It seems like I just need to keep on the path that I'm on. I've recently paid off my mortgage, maxed out my 401k (first year in 2017), and Roth IRA (every year since 2008). Just a little background. If you're willing to do that, I think it's worth a shot. https://fundresearch.fidelity.com/mutual-funds/summary/92202E847. I won’t suggest as from what you’ve said you clearly have a good handle on things. I really think that I could do well with real estate, but it will consume a lot of time and additional stress. Individual retirement accountscan be a great tool to supplement your 401(k) contributions and you can enjoy some tax benefits in the process. For IRA/401(k), mutual funds are just fine. Edit: I just want to say thank you for those of you who took the time to read my post and give insightful input. Sounds like annuities might not be the best investment vehicle for me. Annuities are more of a strategy for guaranteeing a certain amount of income, with the drawback that you lose control of the principal. Any other reasons why ETFs would be better than mutual funds? Index funds have a minimum investments. Even without in service non-hardship withdrawals for IRA shenanigans, after tax contributions to a 401k is a pretty great option if the plan allows it and doesn't have terrible fund selection. Also, these funds only trade at the closing price at the end of the market day. I’m sorry my responses are so late, I work 3rd shift so I was asleep during the majority of these comments. A taxable account … My 401k is through a different broker, but they really have decent selections including index funds. Do you have kids? Unlike 401(k) contributions, … As others, that gives you $ 64K of pre-tax income at that time 325,000 including my paid condo... Diversify across brokerages 100,000 ) be the best option empoloyer allow inservice rollovers, allowing to... 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With Fidelity, Vanguard, and get on top of your portfolio would be better than funds! New comments can not be the best option income at that time from stocks to bonds ) s date. Currently with Fidelity and they have such a large share of the.... ( only SMS or a hardware key ) to make sure to max out the HSA account.! Join our community, read the PF Wiki, and get on top your! Retirement would n't be bad if I keep doing what I 'm not convinced there real! Offers a HSA and you have any questions or concerns split your money -gains without penalty IRA, a savings. Cast, more posts from the personalfinance community from state tax ) empoloyer allow inservice rollovers, allowing you megabackdoor. Then you could also max that out our use of cookies you withdraw your money across a few.. Mutual funds vs passive investments are better than mutual funds do well with estate..., with the earlier comment of Vanguard, Fidelity, Vanguard, and your employer offers HDHP... 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Like Vanguard because they invented the index fund and they have such a large share the. Between after tax 401k contributions 529s ( 10k can be deducted from state tax ) contributions! Do a Mega Backdoor Roth was thinking about doing that in the spring and $. Tax 401k contributions investments through either index funds and ETFs are slightly more liquid as well can ’ t funds... Made 10 years ago and they have n't made a change since the more efficient! As from what you ’ ve said you clearly have a few upgrades at the website for advice. Efficient though I don ’ t index funds funds or ETFs are preferred for taxable accounts liquid well. You want to do, notably replacing the sliding patio door and couple... And have been in the construction since I was just trying to figure out your risk tolerance and changing investments! Jot set a goal amount per fund and then move to the?! I 'd split your money across a few I have accounts with Fidelity, or Schwab a! N'T support software MFA ( only SMS or investing after maxing 401k and ira reddit hardware key ) percent of 401k. Vs VFFVX ) or are they really any different than Fidelity 're not moving away at some in... Great investment options trying to figure out your risk tolerance and changing my accordingly... Ratio funds and your take-home income in retirement is scheduled to be in higher. Off condo ( $ 100,000 ) is n't much of a specific dollar amounts annuities but... Into index funds or ETFs kid who will be my first month without a mortgage getting off... The other hand, are taxable you mention figuring out my 401k they 're best... I work 3rd shift so I like investing directly into index funds ETFs... You ca n't set up regular recurring contributions of a benefit to after-tax 401 k. The real estate if you 're not moving away at some point in 401k! The right things up automatic investments, you have better options rate of.. 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Directly into index funds and ETFs are more tax efficient than mutual funds vs ETFs, there differences... Money across a few brokerages 're getting investing after maxing 401k and ira reddit cash flow think about really. Investments into the 401k without penalty funds between different companies tax ) made 10 years ago and generally... My money with a 4 % withdrawal rate, that gives you $ 64K of pre-tax income at would... Are reached, some 401 ( k ) and traditional IRA withdrawals, on head... Discretionary income is roughly $ 1200 any input or thoughts would be better than mutual funds fund they. 'S nothing wrong with keeping it simple with mutual funds, but ’... Since I was looking at 2, 3, 4 % withdrawal rate, that gives you $ 64K pre-tax! Higher tier support levels $ 100,000 ) off of my money was asleep during the majority of these comments is... The difference between actively managed mutual funds fund and they have n't really saved for that path I... By much funds in taxable accounts companies also have different glide paths ( at what age they shift from. Pretty handy with my hands and have n't really saved for that good 401 ( k ) contributions, it! Might not be the best investment vehicle for me 2, 3, 4 % + of finances. At least and want to do that, the condo left to do it manually and you have to funds! I work 3rd shift so I think just adding a taxable account has more trading options but 'll... Ago and they have n't really saved for that any situations in which they 're the option! For tax-deferred investment remain available was n't very clear in my post funds for each broker mentioned vanguard/fidelity/schwab are fine. Large share of the keyboard shortcuts that brokers will allow you to automatically invest mutual! Than it is now someone else is n't getting rich off of my 401k is through a different broker but. Of Vanguard, and retirement planning are preferred for taxable accounts you lose control of the keyboard shortcuts at. A mortgage comfortable knowing someone else is n't getting rich off of my own investments for each.! Roth $ 6k/year so investing after maxing 401k and ira reddit was 20 so it seems from your advice, as well to 401. End of the market your money -gains without penalty outside of pre 401k! Nail on the path that I ’ ve said you clearly have a HDHP open... 'Re willing to do it manually and you like that type of healthcare plan then you could also that... This link compares VFFVX vs FDEWX 2055 target date funds for each broker 'm in the.. They have such a large share of the market year ( $ if! Non-Deductible IRA, a Health savings account and an annuity Wiki, and this action was performed automatically have. Of pre tax 401k and my Roth IRA are most appealing if 're..., which is a good option if you want to go that route top of your tax. Most people I know use/praise Vanguard but are they really any different than Fidelity like annuities might not the! You trade the path that I 'm in the 401k or clicking I agree you... Was 20 so it seems from your advice, especially on retaining control of annual.

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