Where to go?

[Guest SupremeCD]

I have little knowledge about IRAs, but was told they're better than regular 401K plans.

Where do you go to start one?

What are the requirements?

Can a college student start one?

[JanetM]

IRAs not better than 401K. Contribution limits for 401K are much higher and allow savings to build faster. See attached for basics.

p590.pdf

[Guest SupremeCD]

Thanks...

[John G]

Better? Worse?

I think the better answer is they are different. You control your IRA/Roth and often have more choices of investments. 401Ks have features IRA/Roths do not - and you may have a company matching program which boosts immediate returns. The tax treatment differs. Contributions from Roths can always come out without penalty. Distributions from Roths in retirement are tax free. There is not set schedule for Roth distributions - no minimum age or mandatory rate of dispursement. Max contributions do vary as well as Janet pointed out.

There are many retirement options besides 401k, IRA and Roth. College student status is generally not a factor in retirement options. Participation is generally a function of employement, earned income, max income thresholds, and tax filing status.

Perhaps you should tell us a little more about your self....employment, married/single, age, graduation date, experience in investing, goals, etc. Then I will try and narrow the choices and give you some details on how to get started.