Choosing between a traditional and Roth: Yet another vehicle to save for your retirement years, Individual Retirement Accounts function much like 401(k) plans, but you set them up yourself. There’s an important choice to make, though—between a traditional or Roth account. We’ll explore which is right for you.
These plans sound so official and dull, but if you’re working for an employer who offers this retirement savings vehicle, and you’re not taking advantage of it, you’re leaving money on the table. And if your employer offers matching funds, as many do, you definitely don’t want to lose out. This episode describes 401(k) essentials.