Hello all, I am inexperienced and saw what I thought was conflicting information on the subject.
Please critique my current strategy: Meet my companies 401K match, contribute the max ($6000 I believe) of the after tax money to a Roth IRA. Put the rest of my savings in a brokerage account on etrade (after buying the max, $10K in US I-bonds).
Please advise on: If I should be maxing out my 401k then rolling it over along with the previous $6k into my current roth IRA. Or otherwise, take my savings and create a traditional IRA and roll that over into the existing Roth. Are either of those truly feasible for me, and what would the difference between them be?
My understanding was that gains on a brokerage are taxed (booo) where in the Roth IRA they're free to compound and as long as you don't withdraw more than you've put in you're in the clear on taxes. So it
seems like a no-brainer, why would anyone use brokerage accounts in the first place?
I am 28 and have a $100k income with few living expenses. Thank you in advance for your help.