Thought Leader. Financial Planner. Advocate.

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  • Roth IRAs are "hidden gems," especially for younger investors, says Gen Y advisor.
  • Roth IRA contribution limits are based on household income.
  • Investors contribute after-tax dollars from their paychecks and can withdraw any earnings tax-free in retirement

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  • When changing jobs, don't forget about the money you've stashed in your former employer's 401(k) plan.

  • Savers can keep their old 401(k) account, roll funds into a new 401(k) or an IRA, or cash out.

  • Cashing out is rarely a good idea, as savers under age 59½ pay a 10 percent penalty on top of any taxes owed.

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Sidney Pearce doesn’t buy into the hype that Millennials are financial flakes who would rather buy a Venti latte than invest in a retirement fund.

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  • Financial advisor Rianka Dorsainvil counsels new workers to educate themselves about all the benefits their new employer offers — especially 401(k) savings plans.
  • Be sure to take advantage of employer match, if offered.
  • Learn which funds are the best match, or choose target-date funds if unsure.


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