+- MacResource (https://forums.macresource.com)
+-- Forum: My Category (https://forums.macresource.com/forumdisplay.php?fid=1)
+--- Forum: Tips and Deals (https://forums.macresource.com/forumdisplay.php?fid=3)
+--- Thread: IRA ASAP!!! (/showthread.php?tid=214599)
Re: IRA ASAP!!! - richorlin - 03-16-2018
pdq wrote:
[quote=space-time]
[quote=Acer]
FYI, in the future you can still make individual IRA contributions even if you have an employer's 401(k).
...
I know, but with both of us working now, we hit the limit. Yes, I can make IRA contributions, but it will not be tax deductible. So I might as well put it in a normal stock account, at least I could withdraw whenever I wanted. Am I missing something?
The only thing that you might be missing there (and I may be wrong - not an accountant) is that that money in an IRA would earn dividends and such tax free.
Yes. But only tax free until you start taking it out...