Solving the Financial Puzzle

Ep 156: Choosing Between A Traditional Or Roth IRA

June 10, 2020

Maybe you know you need to contribute somewhere or you’ve always contributed to a traditional IRA but have been wondering about the Roth. Nikki explains the similarities and differences between the two and explains the long-term benefits.

Show Notes & Resourceshttps://www.moneyandclarity.com/?p=27798

Timestamps:

1:11 - Nikki shares what her family is up to.

2:39 - There are a lot of differences between the traditional and Roth IRA.

4:00 - When you pay taxes on the Roth IRA and why that matters.

4:40 - What do the Roth IRA and traditional IRA have in common?

6:43 - Why have people have contributed to traditional IRAs instead of a Roth IRA?

9:13 - Why can a Roth IRA be so powerful?

11:34 - When is a Roth IRA a better choice?

12:48 - When should you contribute to a traditional IRA?

14:31 - Your advisor should be able to help determine which is best every year.