The King of Retirement Accounts | Jill On Money Tips
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- Опубліковано 1 жов 2024
- Do you know the difference between traditional and Roth retirement accounts? Find out why you should own a Roth on this episode of Jill On Money Tips!
Jill Schlesinger is an Emmy and Gracie Award winning Business Analyst for CBS News and host of the Jill on Money podcast. For more, check out: www.jillonmone....
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Hi Jill, can you let Batnick know... Pacers got this. Thank you.
Roth focus is ok, even good. But all Roth all the time is not good. Ignoring futures tax rates, not for some irrelevant group like all Americans, but for you personally and your projected future income. Many people will drop a tax racket or two in retirement. Why forgo the opportunity to avoid say 24% now to pay only 12% later, it is really an even bigger gap when you realize you pay 24% marginal but when you max 12% from traditional iira you will pay a blended rate on that amount closer to probably 8%. Same scenario can be done for a Roth IRA conversion which will then grow tax free going forward. Again, I like Roth. But all Roth all the time is leaving too much money on the table for a lot of people.
Easy, both, if your company provides that option. You get a tax break today from your 401k and a tax break later from your 401k Roth when you retire.
Roth vs. Traditional. I’ve heard the question 1,000 times. Which is better? “It’s complicated” ; ) It’s basically Roth (meaning I agree with Jill and this video). I wish I went Roth : (
I concur ❤
This makes total sense. Whoever edited this did a great job!
A good mix of both is best and allows you to be flexible in how you withdraw come retirement. But it's especially advantageous to load up on Roth early in your working years while your earnings and taxes are lower, and you'll have more time to grow that nest egg tax free.
We want the interviews back not these 2 minute video please !
We have more interviews lined up, just not weekly.
Roth is the way to go, and if you need some cash, you can take your initial investment out when needed. Only gains and dividends need to remain in the account. Someone let me know if there are any exceptions to this.
Go Roth or go home!👍
Not sure why it matters if your in your 30's or whether you make 6 figures or not, ROTH is still the choice, even for us lowly 50 year olds not making 6 figures.
I'm a Roth 401k kinda guy 🎉
One question to consider MWC; would you be able to save more if your taxes on current income was reduced? The more you can save the greater the power of compounding. If you can max out the Roth 401k, then yes, I'm with you buddy.
@@cliffpeebles9705 I'm not sure. I fell off the bunk bed as a toddler. They say I hurt my brain. Wouldn't everybody be able to save more money if taxed less? 🤷♂️
@@midwestcannabis That's the point. The money that you save pre-tax can be invested. Pull out your 2023 tax return and see if you would have been better off in a traditional 401K. If in doubt, ask Ben and Bill Sweet. Email Duncan, and say, "Hey, I'm a regular, help a fan out". Just the fact that you are part of the community shows that you are on the right path.
@@midwestcannabis I found a good calculator on AARP : Roth vs. Traditional 401(k) and your Paycheck.
Great info. Just sent this video to my kids, nephews and others. There hasn't been a better time to I vest than now. Thank you.
What are your thoughts on Roth vs regular 401 for 50 years old earning 200k and 500k balance in 401k?
Jill needs more time on the compound. Initial show was great