Need Advise.

[Guest DavidINNC]

Hi, I 36yrs old and and my wife, we have never been big savers and I'm am just now trying to establish a saving Plan. I'm in my company 401K my wife is in her 401k, my contributions is 5% with a match of 50%up to 4%. My wife gets 0% match but good retirement and retires in 13yrs with full pay until 65(state job). All assets will be paid for in 12yrs. I make app. 70K and the wife 35K.

Now with that said, I would like to start a IRA preferably a Roth. can anyone give me any pointers?

David

[david rigby]

Have you read IRS Publication 590? http://www.irs.gov/pub/irs-pdf/p590.pdf

Call the IRS and they can mail you a copy.

[John G]

The 401 parts look like a good base.... when did you start these, or approximately where do you stand with these two accounts?

What part of the approximately 100k you earn each year do you feel that you have available for investing? It looks like you would qualify for the 4+4 K current maximum on Roths.

Please clarify if your question is "how does a Roth work" or "investment choices I need to make". Also, do you have some specific goals in mind? You did not say anything about children or college payments. I am going to assume that you do not have significant credit card or other high interest debt.

Sorry for all the questions, but I will post again with some advice. It helps to have a little background before making recommendations.