Nine Four One K, Seven Month discussed on Clark Howard

Automatic TRANSCRIPT

Okay. Okay. Go ahead. I heard you say something about using my Roth instead of a five point nine four one K. Would it be better to invest more into that? Leave the Roth 4._0._1._K is it is. I wanted to do anything as an alternative to a five twenty nine account. You can do a regular Roth IRA for you. And have that in lieu of putting money in college. Find the reason you would do that is if in your family culture, there's the possibility of their child wouldn't go to college. Or if you're seven month old is already clearly, so brilliant that scholarship ING out looks like it's almost a certainty. The advantage of doing a five twenty nine plan potentially over a Roth IRA is that in a lot of state tax benefit for contributing and the account is on top of that tax free. Something I set up through my job that has to know. What you do is you go. If you go to my five twenty nine plan guide at Clark dot com. Just put in five twenty nine in the search box ignore the ads that will come up, and then you can click on my guide, and when you open an account what happens is they'll link to your checking account. And if you decide to set up automatic contributions, they'll just take them straight from that. Okay. All right, one more thing. Yes. About life insurance?.

Coming up next