22 years old - opened up a Roth IRA. How else can I save for retirement?

I believe the order of investing is:
3-6 months of monthly expenses in savings
401k till employers match
Roth IRA ($5500)
Back to 401k till you meet your max yearly contribution limit
Then regular brokerage account

Also I don't do those 2060 or whatever funds. Everything I invest in is a balance of 3 funds.
So my entire portfolio (from work to roth to regular brokerage..) is balanced to have 90% stocks, 10% bond using these funds:
1. Total stock market
2. Total international stock
3. Total bonds

https://www.bogleheads.org/wiki/Three-fund_portfolio

 

Don't hold me to this but I believe you might be out of luck in terms of 401k.
Your options are either a traditional IRA or a Roth IRA with the total limits for both combing being $5500 a year.

 

I love my Roths. I am with a very small company who is looking to offer retirement benefits. We have talked about Roths vs IRA's/401ks.

1st and foremost, yes, have a rainy day fund.
2nd, match any employment benefit before anything else. I would almost put this first.

Depending on your tax writeoffs, Roths vs IRA's have their benefits. As you know, Roths interest is tax free.

A couple things to keep in mind with Roths; Since your principle is taxed, you can pull this principle out at anytime w/out penalty (401k might be different). There are a few qualifying incidents where you can pull the Roth interest out w/out penalty, such as a 1st time home buyers.

If you have more to invest outside of employer contribution and Roth max, I'd look into a wide variety of investment opportunities.

 

Plop it all in bitcoin

 

Make sure you're phased out of your Roth by age 23, and you should be set.

 

Still contribute into your 401k for your tax benefits, even if your employer doesn't match. For you, you should be set with the Roth and a 401K, Just put a percentage in every paycheck and don't think about it again. Every once in a while you will decide to look at your 401K and get pleasantly surprised at how much money has accumulated.

 

You should still contribute to the 401(k) even if they dont match. I would think that after contributing for so many years that they would start matching. If you have the money and can afford to do it, you can always open up a mutual fund.

 

This is excellent advice.

The decision that will impact your retirement the most is how much you save.

The second most important thing is that you invest your savings into the stock market. Equities will give you more growth potential over a long time horizon.

 

There's nothing wrong with target funds if you don't want to rebalance your portfolio yourself.

 

What funds are available in your employer sponsored 401k?

 

This is important.
The only one I like in mine is the fidelity s&p 500 index. Everything else has too high of an expense ratio.

The rest of my investments are at vanguard. (brokerage, rollover ira, roth ira).

 

1st off, well done, kid. You should be able to retire early with this strategy.

You should still max out your 401k, simply for dollar cost averaging, as well as it just coming out of your paycheck. ie. set it and forget it. Go with aggressive growth and international funds until at least 40.

 

Humble brag.

 

Weed stocks and Bell South.

 

You need to diversify your bonds.

 

Yee. Read Junk Bond Millionare and Rich Dad, b**** Dad.

 

WUTANG