My daughter is 29 years old. She is single and her job pays about $80K/year. She owns a condo that she rents out and is slightly cashflow positive. Lives at home with parents for now and is saving money to purchase another residence. She has taken my advice and has been putting $10K/year in a roth 401K at her work. I just found out that her employer doesn't match on the 401K but instead they deposit profit sharing in her 401K (Not Roth) and her participation in the profit sharing isn't based on participation in the 401K. I told her she'd be better off putting the max into a Roth IRA each year instead of all the savings going in her Roth 401k because 40 years from now she won't be faced with RMDs. Being that she has a 40 year window I'm recommending that she put all of her new Roth IRA money in VTSAX. I'd love to hear thoughts from the forum about this. Thanks much
Statistics: Posted by doctormike — Tue Mar 26, 2024 10:23 am — Replies 10 — Views 518