Ask Terry Questions Roth retirement accounts

Roth retirement accounts

By Terry Savage on July 05, 2024 | Financial Planning / Retirement

Hello,

I am 37 years old and make about $80,000 per year gross. I invest all of my retirement money in Roth retirement accounts. I have a state government (TN) job of over 16 years that comes with a noncontributory pension plan. I also have a matching 401k and have always taken full advantage of the employer matching. Should be investing any money in traditional retirement accounts?

Terry Says

Since you are uner age 50, you can contribute a total of $23,000 to ALL your retirement accounts in 2024 — not including corporate matching.  It sounds like you are doing a great job of saving for retirement.  Have you considered any other investments, perhaps a home, that not only diversify your risk but might result in long-term capital gains?

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