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I just started a 401k with my company and i dont know if i should do a pre tax or
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04-15-2008
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I just started a 401k with my company and i dont know if i should do a pre tax or
after tx i'm 32yrs.? I'm doing 3% cause that match up to that it's a part time job with only 20hrs week@9.00hr.Any help?
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04-15-2008
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Make sure you'd still get the match if it's after-tax. Many cases it's not...But, if yes then it's a crap shoot. If you think that your tax bracket will increase (ie you'll make significantly more money each year - like 40k more.) then after-tax might not be a bad idea. However, if you think that you'll be earning between 20-40k a year then I would say pre-tax...take the deduction now and let the extra money earn interest for you.
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