Where does one open a roth 401k?

Anyone have good suggestions???

also google says at 59 1/2 401k does not get taxed....factual or no? i feel it cant be true

Fidelity

I use fidelity as well. Roth ira is a retirement fund where u allocate already taxed money into it so later when u retire, u can pull the money out tax free where as 401k or traditional ira is money you allocate before tax and then when you retire and pull the money out you get taxed

You can't open a personal roth 401k, it has to be with your employer.

You can open a Roth IRA with a few popular ones (zero commission) Fidelity & Vanguard are the two popular ones.


"also google says at 59 1/2 401k does not get taxed....factual or no? i feel it cant be true"

Roth IRA you would put POST-TAX dollars into this account. When your 59.5, you can make distributions without paying any capital gains on that value. Since you already paid the tax from your paycheck, you don't get double taxed.

The max contribution is $6k/year unless you're over 50, which the max is $7k+

This post was edited by Linux on Dec 8 2021 09:33pm

M1 Finance

thanks for the answers fellas very helpful