401K vs IRA

EDIT -

Here's the limits:

IRA Contribution Limits

YEAR AGE 49 & BELOW
2002-2004 $3,000
2005 $4,000
2006-2007 $4,000
2008 $5,000

 

ok. well, my wife is temping now so there's no guaranteed weekly paycheck coming from her. so i'm guessing that 401k is the way to go until she decides on a full time office.

 

Yep.

http://beginnersinvest.about.com/cs/iras/a/iracontribution.htm

 

Not if you're doubling up and not getting matched. Might as well start putting the extra in the ROTH.

 

Most advisors will tell you to max out your 401K before thinking about a ROTH. I happen to think a little differently. Max out what your company will match in your 401k and then dump the rest in a ROTH tweaking up your 401K % when you max out the ROTH contribution.

Once you max out both then you need to look at tax "advantaged" (not a true tax benefit but they pay attention and try to limit tax hits when buying and selling assets) funds

 

i need an advisor. a free advisor. too much thinking involved.

 

Read.

Start here

http://money.cnn.com/pf/expert/

this kinda hits on your question

http://money.cnn.com/2006/08/01/pf/expert/expert.moneymag/index.htm

 

preesh, TIA, TIAA-CREF.

 

Vanguard!