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Would it be smart to invest in a Roth 401k plan if I am 20 years old living in an apartment?
Wiki User
∙ 12y ago
Roth and 401k plans are separate investment vehicles. Roth IRA is offered to individuals who qualify. The Roth IRA has yearly contribution limits, and offers no present tax treatment. The benefit is in the end where the withdrawals are all tax-free (see age requirements for withdrawals without penalty). If a company offers a 401k as a benefit to it's employees, the contributions are usually "pre-tax." Therefore saving the employee immediate tax savings. Also inquire whether the company matches the employee's contributions, which is a great benefit.
Both plans are ideal for a twenty year old to start saving for future retirement needs. You have to compare the tax differences and whether a matching contibution is offered. It is possible to contibute to both. Once again the IRS has income limits to qualify. Create another investment strategy to start saving for your first home.
Wiki User
∙ 12y ago
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Is it smart to invest in stocks?
If you have a family member or friend that is very smart in the stock market yes. Stocks can make you a lot of money if you buy the right stock but no matter what you WILL lose money at some point. Oil and gas companies would be a great start but they are a lot of money. If you have no one to teach you i suggest you find a professional to help you or dont invest because the market is tricky.
Why smart card called as smart card?
Smart card (also known as ICC card) are called smart because these have an IC chip which can process the data.
What is the difference between a credit card and smart card?
Credit cards are an application of smart card.Credit cards are either smart card or magnetic strip card.A smart card is a card which have an IC chip to process the data/ Smart card have the capability to process the data.
Why do some people invest their savings in the stock rather than saving in a bank?
If you keep money in the savings account in a bank, your money will lose value over time. This is because the interest rate provided by the bank is lower than the inflation rate. Your money is losing value although the amount of money is increasing. This is because you would have been able to buy more things at the time which you invested than what it becomes as the price of things increases at a higher rate. This is why letting your money remain in a savings account is not a good idea, and many people choose to invest their money elsewhere as a hedge against inflation. Now regarding the people investing in stocks, they may seek a higher return or they believe that they are smart enough to multiply their money through stocks, and that's why they invest in them. It is considered risky, but the reward is also high if you succeed.
What is the difference between a smart card and debit card?
A debit card is a credit card that is connected to a specific account where money can be deposited. A smart card has intrinsic value, and can be used as cash where accepted. When value is added to the smart card, the record is on the card itself.Above answer is financiallyTechnicallyDebit cards are an application of smart card.Debit cards are either smart card or magnetic strip card.A smart card is a card which have an IC chip to process the data/ Smart card have the capability to process the data.
Other than living with your parent what Is another smart way to keep living expenses down while in college?
Buy a studio apartment
What was Maxwell Smart's apartment number?
Apartment number 86
Where is Elizabeth Smart living?
she is living in London
Would it be smart to invest in Black Diamond Hockey cards?
Yes a lot of money but definatly worth it in my opinion never opened one but heard its good from everyone!
What are the ratings and certificates for Living Smart - 2005?
Living Smart - 2005 is rated/received certificates of: USA:TV-PG
What actors and actresses appeared in Living Smart - 2005?
The cast of Living Smart - 2005 includes: Patricia Gras as Host
Is it smart to invest in stocks?
If you have a family member or friend that is very smart in the stock market yes. Stocks can make you a lot of money if you buy the right stock but no matter what you WILL lose money at some point. Oil and gas companies would be a great start but they are a lot of money. If you have no one to teach you i suggest you find a professional to help you or dont invest because the market is tricky.
Are trees smart?
No, but so far they are not but they are living
What does Ed Smart do for a living?
motivational speaker
How do living things respond to stimules?
smart
How much are Smart car?
There are three different types of SmartCars. -Pure starts at $12,235 including a $645 destination charge - Passion Coupe starts at $14,235 - Passion Cabriolet (convertible) starts at $17,235
Is it smart to move out when 18?
Moving away to go to school is sometimes a must but in general it's not smart to move out unless you are done with your education and have a paid job waiting and a contract on a apartment.
