I will be living at home so I won’t have to worry about budgeting for housing. Does it make sense to open an IRA with this extra money in addition to the 401k my employer offers?

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Posted by Kelby Spring (MONEY FORUMS: 2, Answers: 0)
Asked on March 8, 2016 8:16 pm
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Socking away as much as possible in tax advantaged accounts is always a good idea. But make sure you contribute to your 401(k) up to the match first! Consider a Roth option for both the IRA and the 401(k) (if available). A Roth basically means you pay tax now but don’t have to pay when you withdrawal and the $ is worth a lot more. It makes sense for most young people.

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Posted by Will Lipovsky (MONEY FORUMS: 0, Answers: 37)
Answered: March 9, 2016 9:20 am
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