In this video, “Roth vs traditional 401k vs IRA explained”, we’ll walk through the similarities & differences between a 401k vs IRA as well as between a Roth vs. traditional IRA. We’ll also go through how our clients make their decision on whether to put their money in a traditional vs Roth IRA vs 401k & how they decide between a traditional IRA vs Roth IRA. By the end of this video, you’ll see you actually don’t have to choose between a Roth IRA vs 401k, a traditional IRA vs 401k or a Roth IRA vs traditional IRA! You can have all three!

401(k) contribution limits:
Compound interest calculator:
Roth & IRA contribution limits:
Info on modified adjusted gross income:

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When it comes to retirement planning, one of the most important decisions you can make is deciding between a Roth IRA or a Traditional IRA. Both types of retirement accounts offer tax advantages, but there are some key differences between them. In this article, we’ll explain the differences between Roth and Traditional IRAs and 401(k)s, so you can make the best decision for your retirement savings.

A Traditional IRA is the most common type of retirement account. Contributions to a Traditional IRA are made with pre-tax money, which means you don’t pay taxes on the money until you withdraw it. This is beneficial because it allows you to save more money for retirement now, while paying taxes later. However, once you start withdrawing money from a Traditional IRA, you will be taxed at your current income tax rate.

A Roth IRA is a retirement account that allows you to contribute after-tax money. This means you pay taxes on the money now, but you won’t be taxed when you withdraw it. This is beneficial because it allows you to save money for retirement now while still taking advantage of the tax savings. However, there are income limits for Roth IRAs, so if you make too much money, you won’t be able to contribute.

A 401(k) is a retirement plan offered by employers. Contributions to a 401(k) are made with pre-tax money, just like a Traditional IRA. The main difference between a 401(k) and a Traditional IRA is that 401(k)s offer employer matching contributions, which can significantly increase your savings.

When deciding between a Roth IRA and a Traditional IRA, it’s important to consider your current tax rate and your projected tax rate at retirement. If you think your tax rate will be higher at retirement, a Traditional IRA may be the better option. If you think your tax rate will be lower at retirement, a Roth IRA may be the better option.

When deciding between a 401(k) and an IRA, it’s important to consider the employer matching contributions offered by a 401(k). If your employer offers matching contributions, it may be worth it to contribute to a 401(k) instead of an IRA.

No matter which retirement account you choose, it’s important to start saving for retirement as soon as possible. The sooner you start saving, the more you’ll have when it’s time to retire.