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084 - How Should You Know When to Use a Roth IRA vs Traditional IRA?
Description
In this episode James and Scott discuss the difference between a Traditional IRA & Roth IRA and which may be ideal for you based on your individual situation.
Questions discussed: Are you hoping to lower your taxable income today? Do you think your income will rise over the course of your lifetime? When does it make most sense to use a Roth IRA vs. Traditional IRA? How should I invest in my Roth IRA or Traditional IRA?
Planning Points Discussed
- Tax Planning
- Retirement Planning
- Roth IRA vs. Traditional IRA
- Aligning Your Investments with Financial Goals
Timestamps:
2:30 - Listener Question
4:35 - Pre-tax vs. Post-tax Contributions
7:51 - IRA vs. Roth IRA Tax Implications
9:30 - Having an Accountability Partner
10:11 - 401(k) vs. Roth 401(k)
15:50 - Aligning Your Money With Your Life
LET'S CONNECT!
James
Scott
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