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The limits shouldn’t matter in this decision since you can max out you Roth then contribute to a 401K to invents to total same amount regardless of which you choose.
Roth 401K and Roth IRA on deck.
How much faster?
apricate the simple explanation
Nice video
Thanks soo much! This kind of info in so valuable. God bless you!
I am 32, $100,000 saved in 401k, but I am thinking about changing from traditional 401k to Roth 401k. Which should I pick? My current aggregate federal tax rate is around 20%.
P.S. I do get a match as well.
i don't need 401k or roth ira i choose to have cash flow everyday and ill enjoy it now not when im almost going to die
Honestlyyyyy this video didn’t help very much. Just told us our options rwally and not how to decide. Maybe make better scenarios. Right out of college vs. middle of career
How do we hire you as our cpa?
There both …ripoffs ….
Called white-collar crimes on the fbi website ….!!!!
I have both, however, I wanted to ask you. With regards to the 401K, I am making the most money now that I am younger, so the 401K allows me to reduce my taxable income, especially since I live in a high tax city, NYC. When it's time for me to withdraw from it, I will be in my 60s or 70s when I will be retired and in a much lower tax bracket therefore I will be paying less taxes on that money than I would now at 49. This is my rationale for contributing into my 401K. Is this the way to go?
Also, if your income is over I think 130K, you cant contribute the full 6K to a Roth. I think I can only contribute 3K a year to a Roth or something like that.
401k his #1 only reduces your income if you do a traditional
So… a 401k is just a traditional IRA with private competition?
Nice concise explanation. Some 401k plans have ‘brokerage links’ inside of the 401k. You can buy just about any individual stock, ETF or mutual fund in the brokerage link. Up to level 2 options trading is available in my brokerage link.
The short answer is that you should have both of these accounts and possibly others (HSA, brokerage), if you want maximum flexibility in retirement. Everyone's retirement plans/goals are different when it comes to spending, Soc Sec, etc so no single plan will work for everyone.
Thanks Brian.
Someone else may have mentioned this but it's important to note the 5 year rule on Roth Ira's….
I do a Roth401k and my wife does Roth403b (teacher). We max both. I also get a 8% match. Most years putting $4500-$4600 a month in the market. Year after year. Will retire and not work for the man anymore when I hit 5M.
My company matches 50% but only up to $1000. What should I do? Pause the 401k after the match and max roth ira?
Brian!!! I have been following you since March 2020 through the pandemic and I appreciate EVERYTHING you have to share and your knowledge on this topic as well as keeping us informed about what’s happening in the world and our nation. Thank you!!
Question: I am curious, I am a small business owner(Licensed Massage Therapist-no employees) in the state of Oregon, is a SEP or IRA better? Please advise. Thank you!
Company matching on your 401k is a 100% instant return on your investment, super worth it to at least invest what your company matches
Can you contribute to a Roth IRA as well as a Roth 401k?
Can you do a video on HSA?
An amazing video would be looking at certain options you can invest in inside of a 401k and weighing the companies inside of them. It would be a large undertaking and probably a long video. Thanks for the info Brian!
Is the limit for the Roth 501k? For instance if the 501k limit is 21k a year, does that mean the Roth 501k is also an additional 21k?
Wish the Roth IRA would let you contribute even if you're over the max AGI if you max out your 401k and HSA so you a guarantee that you will never be a liability on the government.
Cash out and bail this overtaxed nation. As taxation will always increase and you don't stand a chance of collecting as most contract cancer before hitting 70.
I have a Roth started a few years ago (with roboadvisor and automated rebalancing), and an active 401k I'm doing a 12% cont. with 5% match and very low fee ETFs. I'm on the cusp of the 22/24% federal tax threshold, so… I'll take the benefit of the tax deferral for now, until I don't qualify for the Roth anymore. 😉 Then the Roth 401k kicks in. All good. It's just no fun having doing rollovers, but less fun losing money to inactivity fees (and taxes).
Thanks for the videos. Always appreciate the help in breaking things down into plain language!
If I’m 1099 do I save on taxes if I max out my IRA?
Thanks so much for all the info you share!
My company does a 0.25% match for a total of 1% when I contribute 4% of my check. Thoughts? I’m really upset because I was initially told it was up to 8% match but it maxes out at 1%. Such a lie man! I hate this mortgage place.
How certain is it that the min withdrawal will move to 75?
Thank you for your videos.
I'm maxing my 401k as high as my company matched
Roth ira recommendations
Roth 401k recommendations
Please do a video on that before tax time
My company has a decent company 401k match, dollar for dollar up to 5%. I also have a stock portfolio on the side.
Don't forget about Roth 401(k) which has the same contribution limit as 401(k) but has all the advantages as Roth IRA, but if your company contributes to your 401(k), the match part HAS to go to the traditional 401(k)
You should also cover a HSA account. I used to have one, had I known about the HSA I would have taken advantage even more than I did but I did not understand it until later on.
It's not free money LMFAO. Every company still has an overall budget for each employee's salary.
Reduce income tax bracket by maxing out 401k then max Roth
If YouTube wasn’t around I would not know as much as I do
Thanks!
You can’t touch either before 59.5 years old. If you want to retire “faster” you will need another strategy.