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Which is Better? Roth IRA or 401 K


⯮Join Medium with my referral link - 1 Minute Wealth: Are you trying to decide between a Roth IRA and a 401K for your retirement savings? In this one minute video, we'll quickly break down the key differences between these two options to help you make an informed decision. First, let's start with Roth IRAs. These accounts allow you to contribute after-tax money and make tax-free withdrawals in retirement. They also have lower contribution limits and income restrictions compared to 401Ks. On the other hand, 401Ks are employer-sponsored accounts that offer employer matching contributions and higher contribution limits. However, contributions to a 401K are made with pre-tax money, and withdrawals in retirement are taxed as ordinary income. So, which one is right for you? It ultimately depends on your financial goals and circumstances. Consider factors like your current tax rate, income level, and whether you have an employer matching program. By understanding the key differences between these two options, you'll be able to make an informed decision about the best way to save for your retirement....(read more)


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