Posted by: midwestdude January 23, 2008
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a company sponsored 401k definitely has an advantage if you plan to be in the US for a long long time. you can set aside up to $15,500 pretax annually from your salary and many companies match 3% - 6% of the first 50% of your annual salary. you can take all this money and invest in various markets, depending on your company's portfolio options. IRA is short for "individual retirement account" and you may contribute $5000 annually. there's more details at www.ira.com.
all the details can't be covered in these threads. i suggest you to visit this site for more information: www.investopedia.com.
a company sponsored 401k definitely has an advantage if you plan to be in the US for a long long time. you can set aside up to $15,500 pretax annually from your salary and many companies match 3% - 6% of the first 50% of your annual salary. you can take all this money and invest in various markets, depending on your company's portfolio options. IRA is short for "individual retirement account" and you may contribute $5000 annually. there's more details at www.ira.com.
all the details can't be covered in these threads. i suggest you to visit this site for more information: www.investopedia.com.
Last edited: 23-Jan-08 06:39 PM
Last edited: 23-Jan-08 09:22 PM