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    zebrakitty1's Avatar
    zebrakitty1 Posts: 1, Reputation: 1
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    #1

    Dec 19, 2013, 03:00 AM
    Someone answer my personal finance homework question Please?
    Now that you have a full time job you are ready to start investing for retirement. Your corporation will match 50 cents of each dollar that you put in your 401K account up to the first $7,000. You have altogether $15,000 that you can afford to save this year. How should you split your money between your 401k account and IRA accounts? Which type of IRA account probably makes the most sense at your age? (age is 21) Explain your decisions.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Dec 19, 2013, 03:19 AM
    Actually no. you can tell us what you think and we will help you. But we do not do the homework for you.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #3

    Dec 19, 2013, 01:29 PM
    The maximum contribution a person can make into an IRA is $5,500 for 2013. For the 401K most financial advisors say that you should invest up to the employer match.
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