Well its about time I introduce myself, been lurking on here for the past few years.
I work in Wisconsin as an Engineer (Mechanical) and keep a second part time j*b as a holdover from my college days. I have been more of a saver than an investor in my earlier days but am branching out more each year, just turned 27.
My company introduced a Roth 401k last year and I've been participating at a low level. Now I am thinking about openning a Roth IRA as well.
Gross Income is ~65k, expenses including Grad school tuition (going for a 2nd Masters) average 25k over the last 3 years.
AA in 401k's
10%-Bonds
25%-Large Cap Index
20%-Mid Cap
20%-Small Cap
25%-International
Investments
4k-Roth 401k
52k-401k
40k-MM/CDs
My question that I am having a hard time finding the answer to is the balance of contruting to a Roth 401k and Roth IRA - what limits are there for combined contribution, if any? Also, if I open a Roth IRA account before April 17th can I just contribute 10k to cover both 2011 and 2012?
Look forward to your answers and I hope this kick starts me to be more active on the boards.
I work in Wisconsin as an Engineer (Mechanical) and keep a second part time j*b as a holdover from my college days. I have been more of a saver than an investor in my earlier days but am branching out more each year, just turned 27.
My company introduced a Roth 401k last year and I've been participating at a low level. Now I am thinking about openning a Roth IRA as well.
Gross Income is ~65k, expenses including Grad school tuition (going for a 2nd Masters) average 25k over the last 3 years.
AA in 401k's
10%-Bonds
25%-Large Cap Index
20%-Mid Cap
20%-Small Cap
25%-International
Investments
4k-Roth 401k
52k-401k
40k-MM/CDs
My question that I am having a hard time finding the answer to is the balance of contruting to a Roth 401k and Roth IRA - what limits are there for combined contribution, if any? Also, if I open a Roth IRA account before April 17th can I just contribute 10k to cover both 2011 and 2012?
Look forward to your answers and I hope this kick starts me to be more active on the boards.