What’s the Difference? Traditional IRA vs. Roth IRA

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:

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