Supplementing pension ideas

[724Skinsfan]

Originally Posted by Schneed10

In short:
- Do not roll over your 401K, there's no benefit to doing so.

- If you are saving expressly for retirement, use the Roth IRA or 403b vehicles. Choose between them based on your cash flow needs today. Pick an amount to save per year, and decide if you can afford to do it on an after-tax basis. If you can hack it, go with the Roth, it's better. Unless the 403b contains an employer match, then use that under all circumstances.

- Only invest in taxable stocks if you have excess money after socking away your retirement money. If you plan on saving for your kid's college education, do that in a 529 before you start saving money in taxable stock accounts.

Hope this was helpful.

Very helpful. Thanks.

The kids (2) will have a 529 setup for them. The oldest is turning 3 and seems to have a modicum of intelligence so we'll start one up for him soon. Even though I realize the power of compound interest, I was kind of hoping to wait until he's out of daycare and just put that money into the 529. The other is just now starting to recognize me after 7 months so the jury's still out if he'll be able to meet the necessary requirements for admission into a center for higher learning.