Pre-Tax or Roth in Retirement Plan?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 1 March 2021
⏱️ 11 minutes
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Summary
When your workplace retirement plan offers both a pre-tax and a Roth option, which one should you be using? Sometimes it's a no-brainer.
Have a money question? Email me here.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Welcome to the Jill on Money podcast. It is Monday, March 1st. And that means that just |
| 0:11.2 | one month to go in the quarter, maybe one month closer to getting more and more vaccines, |
| 0:17.2 | maybe one month closer to the tax filing deadline. You know, all these things are happening |
| 0:22.2 | right before our eyes. Meanwhile, in your real life, you're probably still trying to figure |
| 0:28.0 | out how to make good financial decisions for you, for your family. And we'd love to help you. |
| 0:34.1 | And we is me, Jill Slesinger, Certified Financial Planner, CBS News Business Analyst, |
| 0:40.1 | and Mark Tulercio, Executive Producer, Extraordinaire. And he is also a CFP, Certified Financial Planner. |
| 0:48.4 | To help you out, we ask just one thing. Send us an email, ask Jill at JillOnMoney.com, ask Jill |
| 0:56.9 | at JillOnMoney.com. That is our email address. And if you are asking a long financial question or a |
| 1:05.4 | short financial question, we don't care. But what we need is to know whether you would be willing |
| 1:11.4 | to come on the air with us. That is so much better than just writing. I'm telling you right now, |
| 1:18.5 | it's a better experience all around. And in fact, that is what William did. William sent us an email |
| 1:25.4 | with lots of info. And Mark rangled him for the show. So William from New Jersey, welcome. |
| 1:32.0 | What can we do for you? So like you said, I sent an email asking about |
| 1:38.3 | traditional or road contribution to my phone, okay. Little info about myself, currently married. |
| 1:45.3 | I make $82,000 a year. My spouse makes $62,000 a year. However, I actually have some interesting |
| 1:53.2 | incomes that kind of makes this question look difficult for me. One of the income is a PDM. So |
| 2:01.0 | every day I work on my job and get a specific amount, which is about $185 a day. |
| 2:08.8 | And at the end of the year, I typically get a bonus. So that gets my compensation just for |
| 2:14.4 | myself up to about $176,000. $176 for you, just you. Trust me. Wow. Yep. And then my spouse |
| 2:24.8 | is still at $62,000 a year. So that trajectory where you have a base, but then you also have |
| 2:31.7 | PDM and bonus and all that. You're a W2 employee, though, right? In other words, you're an employee |
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