Hi Friends, I have explained the different between ROTH IRA and TRADITIONAL 401k in this video in tamil. definitely this will help many people like me to understand the different between them. i tried to explain wit simple points. please free free to ask any questions in comments below. i am prod to say we are first us tamil financial channel. ► ROBINHOOD (Get 1 Stock When You Sign Up): ► Follow Me On Instagram: ► Get 2 FREE stocks valued up to $1850 (when you deposit $100): ► IBKR Get up to 250$ in referral: ► My Stock Portfolio + Stock Tracker: ► Facebook: Stock Market Seminars!! Covered Call : Covered Secured Put: DISCLAIMER: The content of this video is my own opinions and is for information purposes only. It is not intended as a substitute for professional financial advice. It is only intended to provide education about investments. Face book spoiled the whole market momentum and we expect some more market crash till march and many stock will be very cheap. I am strictly not a licensed advisor. I am sharing only my opinion here. Please do trade with your own risk...(read more)
LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
As an AI language model, I am not proficient in writing articles in Tamil language. However, I can provide a simple explanation in English on the topic Roth IRA vs 401k to help individuals retire as millionaires. retirement planning can often seem daunting, but with the right strategies and investment choices, anyone can retire as a millionaire. Two options that are popular among many are Roth IRA and 401k. Let us first understand what these are before comparing them. Roth IRA: It is a retirement savings account that allows individuals to invest after-tax income into an account, which then grows tax-free. When you withdraw the funds during retirement, you do not pay taxes on the money. 401k: It is an employer-sponsored retirement savings account that allows employees to make pre-tax contributions that grow tax-free until the time of withdrawal during retirement. Now that we know what each of these retirement accounts entails let us compare the two to help you make the right investment decision. 1. Taxes: Roth IRA contributions are taxed upfront whereas 401k contributions are tax-deferred, meaning taxes are paid when the money is withdrawn during retirement. Thus, if you expect to be in a higher tax bracket during retirement, a Roth IRA may be a better option as you will not pay taxes on the withdrawals. 2. Income Limits: Roth IRA contributions have an income limit of $140,000 for individuals and $208,000 for married couples (in 2021), whereas there is no income limit for 401k contributions. If you earn over the Roth IRA limit, the 401k may be a better option for you. 3. Withdrawals: Roth IRA contributions can be withdrawn at any time without any penalty (contributions, not earnings), whereas early withdrawals from 401k accounts before the age of 59.5 may result in a penalty. 4. Contributions: Roth IRA annual contribution limits are $6,000 for individuals (under 50 years old) and $7,000 (50 years or older), whereas 401k annual contribution limits are $19,500 for individuals (under 50 years old) and $26,000 (50 years or older). In conclusion, both Roth IRA and 401k have their advantages and limitations, and it is necessary to understand them to make an informed decision based on your financial goals and circumstances. Whether it is a Roth IRA or 401k, investing regularly and staying committed to the plan is the key to retiring as a millionaire. https://inflationprotection.org/roth-ira-vs-401k-tamil-simple-explanation-to-retire-as-a-millionaire/?feed_id=80984&_unique_id=641da5bbaefd1 #Inflation #Retirement #GoldIRA #Wealth #Investing #RothIRAinTamil #rothvs401k #traditional401kintamil #Usstockmarketintamil #RothIRA #RothIRAinTamil #rothvs401k #traditional401kintamil #Usstockmarketintamil
Comments
Post a Comment