Peter Neeves | CentSai Sensei | Sep 26th, 2019
6 second take: Can you tell the difference between Roth and traditional retirement plans? Do you know what kind of account is best for your needs? Get the lowdown.
Not all tax advantages are created equal. There are tax-deductible, tax-deferred, and tax-free plans. Understanding tax-advantaged retirement accounts is essential to make the best decisions for your retirement savings.
This issue is coming up a lot recently due to what seems to be a new norm in financial advice. Individuals signing people up for retirement plans are advocating an equal split between traditional retirement accounts such as 401(k)s and their Roth counterparts. Like most advice given without consideration to your individual situation, it has a high potential to cause harm.