Anonymous wrote:

OTAlexFA wrote:The good news is, even though they're not matching, your employer is required to contribute to your SIMPLE IRA. So, that's a good deal for you.

Outside of that, make sure you can qualify for a Roth (salaries) and determine how much you would like to put away (SIMPLE has higher contribution limits). Roth IRAs are amazing vehicles, if they're right for you.

How are they required to contribute? I've had mine for years and my employer hasn't contibuted.

Contributions:
Employer is required to contribute each year either a:
*Matching contribution up to 3% of compensation (not limited by the annual compensation limit), or
*2% nonelective contribution for each eligible employee

Under the “nonelective” contribution formula, even if an eligible employee doesn’t contribute to his or her SIMPLE IRA, that employee must still receive an employer contribution to his or her SIMPLE IRA equal to 2% of his or her compensation up to the annual limit of $255,000 for 2013 (subject to cost-of-living adjustments in later years)

http://www.irs.gov/Retirement-Plans/Choosing-a-Retirement-Plan:-SIMPLE-IRA-Plan

Anonymous wrote:DH has a 401(k) through work. I have the option to do a Simple IRA through my employer, however they provide no match. Someone suggested I just do a Roth outside of my job (ex. Vanguard). Im mid 30's, no retirement to speak of. What kind of account should I open?

https://i.imgur.com/PWfvdvB.png

OTAlexFA wrote:The good news is, even though they're not matching, your employer is required to contribute to your SIMPLE IRA. So, that's a good deal for you.

Outside of that, make sure you can qualify for a Roth (salaries) and determine how much you would like to put away (SIMPLE has higher contribution limits). Roth IRAs are amazing vehicles, if they're right for you.

How are they required to contribute? I've had mine for years and my employer hasn't contibuted.

The good news is, even though they're not matching, your employer is required to contribute to your SIMPLE IRA. So, that's a good deal for you.

Outside of that, make sure you can qualify for a Roth (salaries) and determine how much you would like to put away (SIMPLE has higher contribution limits). Roth IRAs are amazing vehicles, if they're right for you.

DH has a 401(k) through work. I have the option to do a Simple IRA through my employer, however they provide no match. Someone suggested I just do a Roth outside of my job (ex. Vanguard). Im mid 30's, no retirement to speak of. What kind of account should I open?