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What’s the difference between a traditional (pre-tax) IRA and a Roth IRA? We have your answers in this week’s short episode of The Money Guy Show!
Before you click away thinking this is information you already know, stick around because we share advanced skills you won’t want to miss. We reinforce foundational financial advice you are likely familiar with and go one step further to help you maximize your knowledge so you can take action you didn’t know was possible.
What you’ll find out in this episode:
- What is the difference between a traditional IRA and Roth IRA
- Key characteristics of each type of account – what they have in common and where they start to deviate
- The greatest benefit of a Roth IRA
- What investors should know about tax-deferred vs tax-free growth
- What tax diversification is and how you can leverage it to grow wealth and meet your financial goals
- Advanced planning strategies to use
- How to determine which account is right for you
- What should be your deciding factor based on your income level
- Ways to make contributions to a Roth IRA even if you are over the income limits
- How to take an integrated approach with your various retirement accounts
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