Money Matters
enigmaticdrscully
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
IRA for a year?
I'm a lurker on this board and have not seen this question asked before, so I apologize if I missed it... Is there a benefit to opening an IRA with a plan of contributing for only one year?
In fall 2013 I left a job where I had a 401k and started a job that had no retirement plan. That job was meant to be temporary due to a planned long-distance move this summer. At my new job, I am not eligible to contribute to my employer's retirement plan until I have worked there for one year (so, summer 2015). I am not eligible for a Roth IRA, and MH will no longer be able to contribute to his employer's retirement plan after this summer (nor will he have the option of an employer-based plan until at least 2017). Is there any benefit to opening a traditional IRA now, knowing I will only contribute this year before joining my new employer's plan? Our other option is contributing to a Fidelity account which includes mutual funds and stocks. TIA.
Re: IRA for a year?
In case you are wondering, I think if you rolled over your old 401(k) into a roll-over IRA that would solve your problem about having an IRA for only a year. You would have a new IRA that you can roll other 401(k) plans into.
I would just because there is so much time for compounding interest on any money you put away this year to work.