im 21 years old. i own 17k saved up and own a rental property that i owe 80k on. my tenant are paying the mortgage so its sitting their getting paid bad. im about to invest within mutual funds and need to know if i should invest within a 401k or a roth IRA
Answers: Personally, I would probably invest in the 401(k) up to the height that your employer matches, afterwards in the ROTH above that. You don't know how elevated taxes will be when you retire, so it is noce to have that (ROTH) excise free income. Also, at 21, you are likely contained by a pretty low tax bracket, so paying the taxes on some of the money very soon would be a wise choice.
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Answers: Personally, I would probably invest in the 401(k) up to the height that your employer matches, afterwards in the ROTH above that. You don't know how elevated taxes will be when you retire, so it is noce to have that (ROTH) excise free income. Also, at 21, you are likely contained by a pretty low tax bracket, so paying the taxes on some of the money very soon would be a wise choice.
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