Why Prioritize Roth IRA Over 401K?
HTML-код
- Опубликовано: 30 июл 2024
- Why do I prioritize investing in my Roth IRA before I max out my 401(k)? Let me explain.
The budget app! Start your free YNAB trial today!
➡️ youneedabudget.a4xxmk.net/zNmqQ0
Increase your income by starting a course in Course Careers!
➡️ coursecareers.com/a/FIREPsyChat
Support the channel!
➡️ / @firepsychat
🤳 Psy on TikTok, Facebook, Instagram 🤳
➡️ linktr.ee/firepsychat
📖 Get Your Free Financial Spreadsheets and Resources 📖
➡️ www.firepsychat.com/resources
👨🏫 Financial Coaching 👩🏫
Schedule a 1-on-1 Session with Psy
➡️ www.firepsychat.com/coaching
For sponsorships and business inquiries
➡️ media@firepsychat.com
#FIREPsyChat #FinancialIndependence #RothIRA
🎵 Music and Sound Effects Provided by Epidemic Sound 🎵
www.epidemicsound.com/referra...
Disclaimer: This video is not in any form of personalized financial advice. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence or seek the advice of a licensed advisor if necessary.
Affiliate Disclosure: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinions and comparisons.
1-on-1 Coaching ➡ www.firepsychat.com/coaching
Free Financial Resources ➡ www.firepsychat.com/resources
I put enough into my Roth 401k to get the max employer match. I prioritizing maxing my Roth IRA and HSA. I then put my investing dollars into my taxable account as I plan to be retired or semi retired long before I can start taking distributions from my retirement account.
Good video. What if you can only afford to do one? 401k has a match.
Great question. I always do the match first, Roth next, then increase the 401k contribution gradually 👍
I have a ROTH 457b
Nice! What do you do for a living?
He has a government job. Nice thing about that is you could create a business and have both a 457b and 401k.
I would say Roth 401k to get match, then Roth IRA then max Roth 401k and After Tax… there are some creditor benefits of the 401k if in a bankruptcy. Max it all and try to keep year end Traditional IRA account at zero to allow for clean back door Roth Conversions and After Tax and Traditional 401k conversions each year….
Agreed. Once you’re over the Roth IRA income limits, it’s better to keep the balance in the Traditional IRA at zero to keep the taxes cleaner