Don’t give the government any more money than you have to! We know that choosing between a traditional or a Roth IRA can be confusing, with a number of variables. Here we talk you through it and show you how to calculate your tax rates so you can make the right decision for yourself.
In this episode:
This is a tax planning decision, meaning, how do I pay less in taxes? [1:00]
How marginal rates work [3:00]
Why tax rates can be confusing when looking IRAs [8:30]
If tax rate is the same, there’s no difference in return in traditional versus Roth [11:00]
Is it better to pay taxes now or later? Here’s a rule of thumb [13:00]
Why moving to a different state adds a variable [14:30]
Resources:
If you prefer to follow along on YouTube, watch here: