Is Roth IRA no brainer for low income under 40?

I just opened one, I'm 33 and make less than 50k a year....seems like a no brainer to me.

I already have a 401k where I contribute 2% and my employer contributes 10%

Sub

GSpenn fan - I just opened one, I'm 33 and make less than 50k a year....seems like a no brainer to me.

I already have a 401k where I contribute 2% and my employer contributes 10%

Damn that's a sweet er contribution

I like Roth IRA's and Roth 401k's for young people in low tax brackets.  You pay a low income tax on it now and it grows forever tax free.  

Arglebargle - 
GSpenn fan - I just opened one, I'm 33 and make less than 50k a year....seems like a no brainer to me.

I already have a 401k where I contribute 2% and my employer contributes 10%

Damn that's a sweet er contribution


I will never make big money at this job, 60k is probably my ceiling but there are good perks like this that make it hard to leave....especially in market where 50k-60k is decent living.

I would just contribute more to my 401K if that's an option. Unless you can put your Roth contributions into securities or mutual funds.

Sogsteel - I would just contribute more to my 401K if that's an option. Unless you can put your Roth contributions into securities or mutual funds.

my Roth contributions are currently in a combination of stocks, mutual funds and ETFs

You have much more investment flexibility in Roth IRA then you do in most 401K's. I always recommend to max out a Roth IRA for the year before you put one penny over a company match limit into a 401K. Also better for retirement/estate planning then a 401K with stuff like no RMD's.

I opened a roth up almost 2 years ago, i'm 24, I love it and it seems like a great idea.

Jhay -

I opened a roth up almost 2 years ago, i'm 24, I love it and it seems like a great idea.

Awesome move. That money grows tax free for the next 40 years and you never pay tax in it again.

Put a little more of your salary in if possible. These things take a while to get rolling but take off later in your career.

I'd always do a Roth if I'm able to.   Pay the taxes now rather than when you're older and on a fixed income.