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SVTPerformance's Chain of Restaurants
Road Side Pub
Paying off debt
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<blockquote data-quote="wundrbird" data-source="post: 16502583" data-attributes="member: 18025"><p>If you're already putting money in a 401(k), here's the logic:</p><p></p><p>You invest $500/month for 30 years in a 401(k). Your 30 year total investment will be $180k out of pocket, and you'll have a total of roughly $1.1mil after 30 years at 10%. With a 401(k) you don't pay taxes on the $180k when it's originally invested, but you'll pay taxes on all $1.1 million as you take disbursements.</p><p></p><p>You invest the same in a Roth each month for 30 years. You don't get the initial tax break on the $180k, but all $1.1 million (principle AND interest) is tax-free when taking disbursements.</p></blockquote><p></p>
[QUOTE="wundrbird, post: 16502583, member: 18025"] If you're already putting money in a 401(k), here's the logic: You invest $500/month for 30 years in a 401(k). Your 30 year total investment will be $180k out of pocket, and you'll have a total of roughly $1.1mil after 30 years at 10%. With a 401(k) you don't pay taxes on the $180k when it's originally invested, but you'll pay taxes on all $1.1 million as you take disbursements. You invest the same in a Roth each month for 30 years. You don't get the initial tax break on the $180k, but all $1.1 million (principle AND interest) is tax-free when taking disbursements. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Paying off debt
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