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 & Resources: https://www.moneyandclarity.com/?p=27798
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.