I’m in a job with a pension but want to also have a 401k. What do I do?

I’m in a job with a pension but want to also have a 401k. What do I do?

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Roth IRA

Pensions are scams

Is there a specific company I should look into?

Tell that to the person I replaced in job, who is now sitting on likely a 90k a year retirement

He would have much more if he invested the money himself instead of paying into a pension.

Even after 2008? Why risk it

Open an IRA (Traditional or Roth) and invest in yourself.

Be 100% sure there is not a 401k/403b/457/Profit Sharing plan of some sort. Most companies who can fund a pension should already be in the 401k era by now.

You can always talk to HR about your company starting a 401k for employees. Don't expect this to work or even be quick, but you have to start somewhere if you like this place.

Well through my work there’s the choice of pension OR investment plan. But I’d like a side investment plan in addition.

A lot of things have done well since 2008. Don't let it be the boogeyman that scares you away from investing.

Pic related.

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Side investment plan = IRA

You could also do a standard taxable brokerage account later if you fill up the IRA first.

M8 I just want BOTH the security of a pension AND an IRA that will make retirement luxurious and enjoyable.

One factor that helps provide security is making sure you are able to invest in things that will allowed you to make it to whatever money limit you need to be when you are ready to retire.

I'd compare the investment choices between the pensions plan and the investment plan. Sleep on it and see which one will help you get to retirement with the amount of money you need.

> buying boomer bags - stocks,bonds and other shit
enjoy staying poor

Sure. I’m just now not sure of how to get an IRA lol like do I need to look at investing firms or talk to my bank?

I mean I make 90k a year, hardly poor.

1. Find a brokerage you want to do business with who will allow you to open an IRA with them (e.g. Schwab, Vanguard, Fidelity, TD Ameritrade).

2. Open an IRA.
3. Deposit money into the IRA account.
4. Invest as you see fit.

Thanks. Are they all just different in terms of what you want from them? Or roughly equivalent companies?

Mostly, they all are there to sell you various assets/services/etc., but there are other ways to evaluate these guys.

1. Out front and hidden expenses
2. Quality of customer service
3. Quality of the online experience + web security

You would do well with any of the four above. If you don't like one after awhile, you can open an account at a different brokerage and transfer the account around with you.

Great, that’s good to know! Thank you.

You are welcome. I'd avoid this place for first-time questions.

Seriously, www.bogleheads.org is a great place to start with 401k/IRA/how do I get start questions. Come back here for laughs and edgier investing.