47 0 0 0 13 6. Q: My husband and I are in our middle 30s and both have good jobs in a professional field. A: The answer, of course, is that you should be doing can i invest in both 401k and roth ira—but not necessarily in equal amounts, and much depends on your expenses and how much you are able to sock away.

Let’s look at some of the variables. IRA expert Ed Slott, founder of IRAhelp. That is free money and you shouldn’t leave any of it on the table. Having one will give you more flexibility in retirement.

You pay tax when you start taking distributions no later than your 71st year. A Roth IRA is funded with after-tax dollars that grow tax-free for the rest of your life and that of your spouse, and they have tax advantages for your heirs as well. But your Roth IRA savings will be unaffected. Do you have a personal finance question for our experts? Money may receive compensation for some links to products and services on this website.

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Powered and implemented by Interactive Data Managed Solutions. What Type of Investor Are You? VISIT THE NEW VANTAGEPOINT FUNDS WEBSITE For details about the Vantagepoint Funds and our investment philosophy, visit vantagepointfunds. What are the Benefits of making Roth contributions?