Learn all about the Roth 401K from Sean Mullaney (The Fi Tax Guy), and teach your kids how to meal plan in a fun and interactive way through Dani’s curriculum!
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LEARN MORE ABOUT: 401k Plans
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We will be rolling over the spouse's Roth 401k into her ROTH IRA for two reasons. 1. intent to leave much of it for children and 2. not leaving it with an insurance company disguised as an investment company
I view roth contributions as a forced savings plan. It basically a way to mentally trick yourself into contributing more than you think you are. So for example if you have a 3% contribution and you contribute 100 dollars you have to pay taxes on that 100 dollars so 115 has been removed from your pay( just assuming 15%) so actually you contributed 115/3333= 3.5% of course you could just contribute more traditional to match the increase roth amount but finances aren't all math humans are emotional creatures and not robots
401ks are exempt from civil lawsuits.. IRAs are not.
Does money going into a 401(k) count towards earnings for ssi during the 35 year look back, or do they count later in life when you convert? Should someone in their 20s planning on taking ssi at 65 put money in a 401k and do a conversion during early retirement to boost earning during that lookback period?
Dishonest group of folks trying to promote political topics.
love the roth. ER match and their contributions are traditional so even doing all roth personally I still get tax diversification by default
listen to just past 5 minutes and still nothing about the subject, so i moved on
Roth 401k is for people who doesn't want the RE part or someone that will get pension. (Some people actually love their job and dont want to retire). There are still people who will get pension. With Pension + SS + 401k, you're looking at a disaster if all you have is all pretax. There's nothing wrong having both. But If your intension is to RE, pretax all the way. you just figure out the insurance part if you're in the US.
I like ROTH 401K because there are no required minimum distributions.
ROTH 401K is good for coasting fire people.
I'm in a 457b deferred comp (government employee) with also a defined benefit pension plan and chose the Roth option. I just thought it was better than dealing with the aftermath.
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