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re: Question about a pension plan and income during retirement

Posted on 1/8/21 at 6:06 pm to tigersint
Posted by tigersint
Lafayette
Member since Nov 2012
3549 posts
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Posted on 1/8/21 at 6:06 pm to tigersint
Also from my understanding,


In a traditional acount you:

Pay taxes on the gains


In a roth you:

Do not pay taxes on the gains
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Posted by RedMustang
Member since Oct 2011
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Posted on 1/9/21 at 12:13 am to tigersint
That is correct. Also, if you are over 50, you can contribute $7,000 a year in your Roth. Just make sure you are under the income limits.
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