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SVTPerformance's Chain of Restaurants
Road Side Pub
Any advice for 401k?
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<blockquote data-quote="Twisted2v" data-source="post: 15960637" data-attributes="member: 119147"><p>A trad. ira and a roth ira are the same thing essentially. Contributions that go toward your pool of retirement money.</p><p></p><p>Main question is when do I want my money taxed? </p><p></p><p>You can include your contributions on your tax return this year. You pay tax on it now. When you retire, none of that money will be included as taxable on your tax return. You'll pay no income tax on that money. That's a Roth in a nutshell. </p><p></p><p>Choosing traditional or Roth is balancing strategy/rules/preferences.</p></blockquote><p></p>
[QUOTE="Twisted2v, post: 15960637, member: 119147"] A trad. ira and a roth ira are the same thing essentially. Contributions that go toward your pool of retirement money. Main question is when do I want my money taxed? You can include your contributions on your tax return this year. You pay tax on it now. When you retire, none of that money will be included as taxable on your tax return. You'll pay no income tax on that money. That's a Roth in a nutshell. Choosing traditional or Roth is balancing strategy/rules/preferences. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Any advice for 401k?
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