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May 12, 2016

Should I do a Roth IRA/401(k) or IRA/401(k)?

Every now and then I get asked whether or not someone should put their money into an IRA or a Roth IRA. There seems to be confusion as to which would be more appropriate. The argument in favor of IRA’s & 401(k) is that you can defer paying the tax on the money you currently earn reducing your present tax liability. The drawback is that you will eventually have to pay the taxes and can not escape them. In retirement, this may cause additional taxes on your Social Security income […]