Equipping Points:
Roth IRAs have been around for about 25 years, but a lot of people still don’t know how they differ from a traditional IRA. Understanding the difference between the two will help you determine which option is best for your retirement goals. In this episode, Eric shares what you’ll want to know about a Roth IRA and when to use it.
Have you considered your tax strategy when it comes to retirement contributions? It is hard to project where tax rates may go in the future, but the Roth IRA can be really powerful. Stress test your retirement plan and understand how a Roth IRA can work for you and your family.
Here’s what you’ll learn on today’s show:
- The difference between a Roth IRA vs. traditional IRA. [spp-timestamp time=”1:56″]
- Why so many people focus on the traditional IRA first. [spp-timestamp time=”4:10″]
- The benefits of growing tax-free. [spp-timestamp time=”6:13″]
- Who benefits from a Roth IRA? [spp-timestamp time=”7:57″]
If you have any questions about what we discussed on the show or want to follow up with any financial planning questions of your own, get in touch with us and schedule a visit here.
Today’s Takeaway:
Subscribe To The Podcast:
Apple Podcasts - Google Podcasts - Spotify - Stitcher - iHeartRadio - TuneIn
Check out some other recent episodes
Wizard of Oz Lessons for Retirement Planning
Your retirement journey has more in common with The Wizard of Oz than you might think. In
Read More
Money Mistakes You Only Make Once
Eric explores common money mistakes people often make when planning for retirement, and scenarios that could cost you in the long run. The discussion also covers critical considerations around long-term care and how to avoid financial setbacks. Tune in to learn what you can do now to steer clear of these all-too-common errors and set yourself up for a worry-free retirement.
Read More
The Friendly Skies of Retirement Planning
What do flight plans and retirement strategies have in common? In today’s episode, Eric draws an analogy between pilot-ing a plane and navigating retirement.
Read More
Tough Conversations: Facing Life’s Hardest Financial Moments
It’s time to get comfortable with the uncomfortable.
Read More
Financial Lessons from Aesop’s Fables
Think fairy tales are just for kids? Think again. The secrets to lasting wealth may be hiding in stories you heard at bedtime.
Read More
Periodic Reviews: Tailoring Financial Advice to your Personality
Ever wondered if your financial review truly reflects who you are and what matters most to you?
Read More
Bad Investor Habits to Break Now
Today, Eric breaks down the habits that can turn good intentions into bad investing outcomes.
Read More
Your First Year of Retirement: Don’t Screw It Up
Today, Eric shares the do’s and don’ts of entering retirement and explains why the first year is one of the most critical times in your financial life.
Read More
Debunking Retirement Myths: Smarter Strategies for Your Future
Eric breaks down some of the most common misconceptions about retirement planning and reveals what it really takes to build lasting financial confidence.
Read More
Mailbag: Life Insurance, Housing Decisions & Handling Extra Income
When it comes to retirement, every financial decision counts- but some are more complicated than others. In this episode, Eric tackles listener questions about three real-life retirement scenarios.
Read More