Free for 90 days: Sign up now and get 90 days managed free after your first deposit. See offer details


What Should You Do With An Extra $1,000 (Besides Spend It)

By Judith Ohikuare

If you want to look beyond employer-sponsored plans like 401(k)s and 403(b)s, Celaya suggests contributing to a traditional or Roth IRA.

“Depending on your specific situation, the tax advantages associated with each IRA type can mean a significant increase in your real return, after-tax, overtime,” she explains. “Traditional IRAs can potentially lower your tax bill today, while Roth IRAs provide the opportunity for significant tax-free growth overtime.”

Try using Betterment’s comparison calculator to decide which accounts (or combination of them) might be best for you.

Read the Original Article

This article originally published May 24th, 2017 on Refinery29


Search our site