Chapter 34. More about annuities, IRAs, and 401(k)s
“You cannot escape the responsibility of tomorrow by evading it today.” | ||
| --Abraham Lincoln | ||
Before you invest in an annuity with all its attendant fees and taxes, you should maximize your investments in other tax-advantaged retirement vehicles that may be available to you. Two of the more common and important retirement investments for which you may be eligible are a 401(k) and an IRA.
The most common retirement account provided by employers is the 401(k) account. In a conventional 401(k) account, you are allowed to contribute a portion of your salary, such as 10%, into a tax-deferred retirement account. The money that you contribute from your salary into your 401(k) account is pre-tax. Income ...
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