12-30-2006, 05:24 PM
Contributing up to the company match is important.
After that - well I guess that's where the financial calculators that have been already mentioned come in.
Another possibility besides the 401k is a Roth IRA. You put in after-tax money but then when you retire you don't have to pay tax on the money that your investment has earned. Also (from http://en.wikipedia.org/wiki/Roth_IRA)
* At any time, the IRA owner may withdraw up to the total of his contributions (in nominal dollars).
* Up to $10,000 in earnings withdrawals are considered qualified if the money is used to acquire a principal residence. This house must be acquired by the IRA owner, their spouse, or their lineal ancestors and descendants. The owner or qualified relative who receives the "first time homeowner" distribution must not have owned a home in the previous 24 months.
After that - well I guess that's where the financial calculators that have been already mentioned come in.
Another possibility besides the 401k is a Roth IRA. You put in after-tax money but then when you retire you don't have to pay tax on the money that your investment has earned. Also (from http://en.wikipedia.org/wiki/Roth_IRA)
* At any time, the IRA owner may withdraw up to the total of his contributions (in nominal dollars).
* Up to $10,000 in earnings withdrawals are considered qualified if the money is used to acquire a principal residence. This house must be acquired by the IRA owner, their spouse, or their lineal ancestors and descendants. The owner or qualified relative who receives the "first time homeowner" distribution must not have owned a home in the previous 24 months.