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re: Employer Offering Roth 401K
Posted on 7/12/23 at 7:13 pm to JusTrollin
Posted on 7/12/23 at 7:13 pm to JusTrollin
You will not have to pay taxes on withdrawal, but you will pay more in taxes now. Therefore, it will take up more of your salary currently, but will grow tax free overtime. It depends on your tax bracket to know which one makes more sense.
1
Posted on 7/13/23 at 8:08 am to GeauxTigers777
quote:
You will not have to pay taxes on withdrawal, but you will pay more in taxes now. Therefore, it will take up more of your salary currently, but will grow tax free overtime. It depends on your tax bracket to know which one makes more sense.
So help me understand this part. You assume your salary is going to go up. But with the future being ambiguous, is it not a smarter strategy to invest in a ROTH account while your income level allows it, and if/once your income gets too high, move to a traditional IRA/401K? Seems like a hedged bet in the future without knowing what the future looks like.
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