Positive aged couple consulting with insurance agent

401K and IRA Decisions

Jul 29, 2022

These are the most popular vehicles for savings in retirement. Tim and Jeff discuss what they are and positives and negatives concerning each.

Here are just a handful of the things that we'll discuss:

  • Traditional and Roth IRAs have different types of tax advantages. The traditional is tax deferred so the savings come up front, while the Roth brings you tax free growth and withdrawals but you pay taxes on what you put in
  • 401Ks are provided by employers and have a limited number of choices to invest your savings. IRAs have much more flexibility in the kinds of things money is invested in, not just stocks and bonds
  • 401K money can be placed into an IRA, but there are specific ways to do it to make it tax efficient. These are discussed so you can be sure that you are not paying a bunch of taxes when it may not be necessary


what, when, who, how, the social security decisions

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