Anna S. says, I'm turning 50 this year, have a household income of $225,000, and max out a 401k that doesn't offer matching contributions.

Should I make traditional or rob contributions to my 401K?

Thank you so much for sending me this email, Anna, knowing whether to use a traditional or Roth retirement account is an important financial decision, especially as you reach the milestone of a 50th birthday.

So today's podcast will review the pros and cons of

traditional and Roth accounts and a new Roth rule that applies to high earners over age 50.

I'll offer a roadmap for your retirement strategy based on key factors like your age,

income and financial goals.

Hey, everybody, welcome back to the Money Girl podcast.

It's Finance Friday, a special edition of Money Girl where I answer any of your burning

money questions.

If you're new here, I'm Laura Adams, an award-winning author who's been bringing you

personal finance tips every week for

decades with over 44 million downloads. I love hearing from you. So if something finance-related

is on your mind, go ahead and leave me a voicemail by calling 302-364-0308. You can also email

your question or comment by using my contact page at laura d adams.com.

All right, so first, I want to talk about retirement catch-up contributions, you know,

before we get into the meat of Anna's question about traditional and Roth accounts. I just want to explain

a significant retirement benefit that's available to Anna and anyone over age 50, and that's

catch-up contributions. There's simply additional funds that you can contribute beyond the standard

annual limits set by the IRS, And it does have to be allowed by

your employer's retirement plan and most do. Catch-up contributions allow you to save more as you

approach retirement. That can be really helpful. Maybe if you've delayed saving or you're just

...