Originally Posted by dooo42
I have a Roth IRA and 403b, but i feel I'm not contributing enough so i'm in need of a little advice. Since i am a teacher, I HAVE NO COMPANY MATCH. I'm 37 and will retire in about 25 years, and have about $8,000 in my roth and $50,000 in my 403b. Which should i contribute to first? should i max the roth and then contribute as much as i can to the 403b or max out the 403b first and then fund as much as i can in the Roth? any advice would help. thanks
Depends what you think your tax rate will be now versus in the future. Roth you'll pay taxes on now, the 403b when you withdraw from it. A mixture into both wouldn't be a bad idea. Since you're talking about maxing the 403b (16.5 or whatever the cap is), if you're putting that much to retirement accounts, I'd probably max the Roth at 5.5 and then fill the 403 as much as you can.
Also look into a 457b - some places offer them for teachers instead of, or in addition to, a 403b, and they can be more advantageous.