In this episode James and Scott discuss the difference between a Traditional IRA & Roth IRA and which may be ideal for you based on your individual situation.

Questions discussed: Are you hoping to lower your taxable income today? Do you think your income will rise over the course of your lifetime? When does it make most sense to use a Roth IRA vs. Traditional IRA? How should I invest in my Roth IRA or Traditional IRA?

Planning Points Discussed

• Tax Planning
• Retirement Planning
• Roth IRA vs. Traditional IRA
• Aligning Your Investments with Financial Goals

Timestamps:

2:30 - Listener Question

4:35 - Pre-tax vs. Post-tax Contributions

7:51 - IRA vs. Roth IRA Tax Implications

9:30 - Having an Accountability Partner

10:11 - 401(k) vs. Roth 401(k) 

15:50 - Aligning Your Money With Your Life

 

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James

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Scott

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