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Is a Roth 401 (k) clearly better than a Traditional 401 (k) or . . . - Reddit Trying to understand whether I should contribute to a Roth or Traditional 401k, and I'd like help clarifying my understanding of how each account is taxed I use contributions to refer to the amount of money from my paycheck I will put in the account, and earnings to refer to the money I will get from the growth of my investment With a Traditional 401k Contributions are not taxed Earnings are
Does anyone use Robinhood for their Roth IRA or IRA? : r . . . - Reddit Hey guys I know Robinhood has a 1% match for both Roth and regular Ira accounts Right now I use vanguard for my Roth IRA I was wondering if you guys think it worth the move to get the 1% match They also have Robinhood gold were you pay $5 a month and can get 3% match I mean the 3% dollar amount would definitely be more than the $5 bucks a
Whats the point of Roth IRA? : r personalfinance - Reddit Roth accounts are a hedge against future tax hikes and tax rate insecurity There’s a reason Roth accounts are always subject to elimination every few years, tax revenue from Roth users is far less than from traditional
Traditional vs. Roth 401k in early 20s with good income? Roth is the better option in this person’s scenario, assuming continuous maximum contributions throughout their life and a normal retirement age The compounded earnings you will make will be taken out tax-free
Should I put $6000 in Roth IRA at once or put $500 per month? If you are instead doing Backdoor Roth (I e make non deductible contribution to traditional IRA and do Roth Conversion) for previous year, you need to file 8606 in the returns to update the basis of the non deductible contribution made to traditional IRA and since you have already filed, you should skip otherwise you will be double taxed
Is roth 401k really better than traditional? - Reddit As you get older and start earning more, though, it makes more sense to switch to traditional (especially since you have the option of supplementing your 401k with a Roth IRA) Traditional also leaves the option of someday quitting, and living on your cash accounts and converting Traditional to Roth while you've got $0 earned income
Is anyone contributing to both Pre-Tax 401K and Roth 401K? Roth accounts are more flexible for beneficiaries If you are saving even beyond maxing for retirement - money in your Roth is more earnings tax advantaged To get 22k in your Roth, you are effectively contributing [35] of earnings to your Roth To get 22k in pre tax, you’re contributing 22k into the pre tax
What is your strategy for Roth IRA? : r investing - Reddit If that's in my Roth or similar tax advantaged account, I still can't access it until 65 without incurring a tax penalty Set up a foundation in your retirement accounts, and use the rest in accounts you can actually access if things go well
Personal Finance - Reddit Roth or Traditional? This question relates to IRAs as well as 401 (k) and similar employer-sponsored plans if your employer offers the option to make Roth-style contributions (Anywhere it says "401 (k)" below will generally also apply to 403 (b) plans, 457 plans, and the TSP ) In a Traditional account, money goes in without being taxed With a Traditional IRA, while you are contributing from