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Jill on Money with Jill Schlesinger

Pre-Tax or Roth 401(k)?

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.61.9K Ratings

🗓️ 30 July 2023

⏱️ 11 minutes

🧾️ Download transcript

Summary

Which option should I use for my 401(k), pre-tax or Roth?

Have a money question? Email us here

Subscribe to Jill on Money LIVE

YouTube: @jillonmoney

Instagram: @jillonmoney

Twitter: @jillonmoney

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Jill on Money Show. It is Sunday, July 30th, and we are here talking to you about the

0:10.6

issues that matter most. And it's not about your money. It's about your life. That is why the

0:18.0

subtitle of my book is change your work, change your wealth, change your life,

0:22.8

because so many of the decisions we make in our lives have to do with weaving in the financial

0:29.5

aspect. So if you would like some help in doing that, you can come on the air with us. Just go to

0:35.5

JillonMoney.com, click the contact us button.

0:38.6

Tell us a little bit about what's going on. And if you're shy and you don't plan to come on

0:42.5

the program, give us a lot of details. Otherwise, check the box. Mark does everything else.

0:48.2

While you're on the website, check out all the other great content. There's lots of free stuff.

0:52.2

There's the blog. There's the video section.

0:54.4

But if you are feeling generous, do try to support my cycle for a cause. That is the

1:00.5

Boston to New York AIDS ride. And we hope that we get as many small dollar donations as

1:06.7

humanly possible. Okay, today we are talking to William, who's on the line from New Jersey.

1:13.8

Welcome. What can we do for you? So I sent an email asking about traditional or rough

1:21.5

contribution to my 401k. Little info about myself. I'm currently married. I make $82,000 a year. My spouse makes $62,000 a year. However, I actually have some interest in incomes that kind of makes this question a little difficult for me. One of the income is a PDM. So every day I work on my job, I get a specific amount, which is about $185 a day.

1:50.4

And at the end of the year, I typically get a bonus.

1:53.3

So that gets my compensation just for myself up to about $176,000.

2:00.1

176 for you, just you.

2:02.6

Just me.

2:03.3

Wow.

2:04.3

Yep.

2:05.2

And then my spouse is still at $62,000 a year.

...

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