How to Boost Your Roth Account Balances Ahead of the 2025 Deadline

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 2 July 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Roth IRA and Roth 401(k) account holders can get ahead of next year’s scheduled expiration of 2017 tax breaks by adding to their retirement plans now. Wall Street Journal tax reporter Laura Saunders joins host J.R. Whalen to discuss. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Don't you wish your life came with a warning app?
0:02.0	That dog does not want to be petted.
0:04.0	Well, life doesn't always give you time to change the outcome,
0:08.0	but Pre-diabetes does.
0:09.0	Take the one minute test today at Do I Have Pre-diabetes.
0:12.0	Or brought to you by the Ad Council on its Pre-Dib diabetes.org.
0:12.6	Grought to you by the Ad Council on its Pre-Dibities Awareness Partners.
0:15.1	Here's your money briefing for Tuesday, July 2nd.
0:21.2	I'm J.R. W Wayland for the Wall Street Journal.
0:26.4	For Americans building savings in their Roth IRA or Roth 401k plans, the scheduled expiration of 2017 tax breaks at the end of next year could
0:36.1	tilt the math in their favor if they add to their account now.
0:40.0	If the expiration happens, if tax rates go up, then it will be good if you have money in Roth accounts because they
0:47.6	won't be subject to higher taxes.
0:50.2	And even though you paid taxes on them going in, that's at a lower rate than future tax rates.
0:57.0	W.S.J. Tax reporter Laura Saunders will bring us up to date on Roth retirement accounts.
1:02.0	After the break. Don't you wish your life came with a warning app? That dog does not want to be petted.
1:15.0	Well, life doesn't always give you time to change the outcome, but pre-diabetes does.
1:19.0	Take the one minute test today at do I have pre-diabetes.
1:22.0	Or brought to you by the Ad Council on its pre-diabedes dot work brought to you by the ad council
1:23.6	that's pre-diabedes awareness partners.
1:27.0	People who have Roth IRA and 401k accounts can boost their balances before a set of tax cuts
1:36.4	expires next year.
	...

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