Traditional or Roth: Breaking Down Retirement Accounts

Stay Wealthy Retirement Podcast

Taylor Schulte, CFP®

Investing, Business

4.7 • 678 Ratings

🗓️ 19 June 2018

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Just about everyone saving for retirement is faced with the option: Traditional or Roth.

It doesn't matter if you are saving for retirement through an Individual Retirement Account (IRA) or a company-sponsored plan like a 401(k) or 403(b).

You typically have the ability to choose between these two options.

Unfortunately, most people default to choosing the wrong option and they could be missing out on tens of thousands of extra dollars in their retirement accounts.

In today's episode, you will learn:

Why we put money in retirement accounts to begin with
The rules of thumb for choosing a retirement account and why you might not want to follow them
Which type of retirement account - Traditional or Roth - is the best option (for most people)
The flipside of the argument so you make an informed decision about what is best for you
A common misconception about retirement accounts and how to address this
One super simple trick for choosing the best investment options in your retirement account

If you want to save more money, reduce your future tax bill, and invest smarter, you don't want to miss today's episode.

Show notes: www.youstaywealthy.com/24

DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Transcript

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0:00.0	Just wait patiently and just see it grow and grow and grow exponentially until it's a giant
0:05.0	pile of money and then we can retire and do fun stuff with it.
0:09.5	Welcome to Stay Wealthy San Diego, a show for successful professionals doing all the right
0:15.1	things with their money and are ready to take their financial plan to the next level.
0:19.9	I'm certified financial planner Taylor
0:21.7	Schulte, and I'm here to teach you advanced financial planning strategies in plain English.
0:28.4	This podcast is for informational and entertainment purposes only and should not be relied upon
0:33.2	as a basis for investment decisions. This podcast is not engaged in rendering legal, financial,
0:37.9	or other professional services. Welcome to Stay Wealthy, San Diego. Today we are talking
0:46.8	traditional retirement accounts versus Roth retirement accounts. John's favorite topic.
0:53.7	I love this topic.
0:54.7	John, let me ask you something.
0:55.5	Would you rather be out at Torrey Pines playing some golf or recording a podcast on retirement
1:01.9	accounts?
1:02.6	Definitely the latter.
1:04.5	What would you rather be doing instead of this?
1:08.4	Maybe Jiu-Jitsu, maybe.
1:11.0	Yeah, or reading a nerdy paper or writing a nerdy paper or calculating my expenses.
1:18.0	Right.
1:18.6	I guess my point is we love talking about this stuff.
1:20.7	I'd probably rather be on the golf course, but no, we do love talking about this stuff.
1:25.1	And it's a really important topic.
	...

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