Hello I’m seeking some advice regarding investing… I have a 403b and pension as well as Roll over 401k. I use a high yield account which is 3.3% for my savings (house down payment fund, want this cash available). I also have a small amount of stocks set up for long term investment but it’s not alot. I’m 28 years old female and started investing and working with retirement accounts around 24.
My goal now is I’m realizing I have all tax deferred accounts and I’d like to have accounts post tax.
I know these accounts are very different but I’m between getting an additional retirement account, ROTH IRA or a Mutual Fund. The reason I’m in between these two is, although my primary purpose is to use it for retirement and a post tax benefit, I like that the MF can be withdrawn if needed (house emergency) and that you can put more money into it yearly and can still provide you with additional income when retired at a post tax benefit.
My main goal is saving for a house and I’m pretty much there so now my goal is saving up and setting aside 6k(Roth) or 10k (MF).
Question: *Does anyone have an opinion that would help with my rational and help me see which one is better in terms long term profit and my goal?
If you feel Roth IRA/MF is best can you provide what I should select in my portfolios that are safe long term investments?
After I deposit that lump sum I’m thinking of sticking to a $300 a month withdraw into the account because that is what i can afford comfortably at this time after my months expenses and my current 403b and pension dedication. Do you think that’s enough?
Challenge question, do I really need a post tax account like everyone says? Or can I live off my pension and 403b and the tax deductions it’ll hit in the future?
Thank you!PS please talk simple terms here I know nothing about the market 😂
Submitted January 03, 2023 at 06:24AM by SaltOk3355 https://ift.tt/ykCntHO
