303-Roth IRA vs. Traditional: Which One Pays Less Taxes?

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 3 March 2016

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Will you pay less taxes when investing in a Traditional IRA or a Roth IRA? Do you know? Are you sure?

If you're not sure, the answer may surprise you.

Let me know if you're surprised!

Joshua

Support Radical Personal Finance: www.radicalpersonalfinance.com/patron

Transcript

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0:00.0	This Winter, memberships will never be the same again.
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0:16.0	It's on prime.
0:18.0	Geographic restrictions and tesencies apply 18 plus.
0:20.0	In arguing whether you should open a Roth IRA or fund a traditional IRA, have you ever heard or proffered this argument?
0:31.0	Well, you'll pay less tax with the Roth IRA, so you should do that. Ever heard that one? Or
0:38.1	worse, ever made that one? It's MythBusting Day on Radical Personal Finance, and today we're just going to tackle this simple little
0:44.8	question with a calculator. Welcome to the Radical Personal Finance Podcast. My name is Joshua Sheets. I'm your host.
1:08.0	Thank you for being here with me today's
1:15.0	in building a rich life now, and a plan for financial freedom in 10 years or less,
1:17.0	gonna keep today's show tightly focused on this myth.
1:22.0	I'm ashamed to say that I used to spread this one. This is one of those common, common themes. There's a constant debate about IRA versus
1:41.2	Roth IRA versus traditional IRA versus traditional IRA.
1:43.0	Roth IRA versus traditional IRA.
1:44.6	It goes around and around and around.
1:48.2	And rightly so, because it is a big decision.
1:50.4	Now, to put it in perspective, recognize that it's really not that big of a decision for many people
1:55.7	You're capped at what five grand is
1:59.1	Depending on what year you're listening to this for your contributions to a Roth IRA. So for some people that can be a
	...

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