best pre-tax investments for teachers
Hi Terry,
I am a teacher and would like to use part of my paycheck to invest in my retirement and also to fund my children’s college funds. Can you recommend some pretax investments I can make?
Thanks!
Terry Says
You can open an individual retirement account (IRA) at Fidelity or Vanguard, and contribute up to $6,000. And you can open a 529 college savings account at either Fidelity or Vanguard. Frankly, I’m delighted that you have “extra” money to invest. I assume you’re also earning a pension or have a retirement plan at work. So I’d start with the 529 college savings plan for your children. It lets your money grow tax-free for college. To learn more go to www.SavingforCollege.com.
