Retirement advice... - Chicagoland Sportbikes
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post #1 of 4 (permalink) Old 06-25-2008, 07:49 PM Thread Starter
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Retirement advice...

My last thread got lost. Just wanted to ask which retirement plan is best for me? Roth ira or traditional. I'm 32 and don't want to withdraw anything until its time.

any advice would be helpful.

<------ Jason
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post #2 of 4 (permalink) Old 06-25-2008, 07:53 PM
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Everybody tells me roth which is what I did. Can I assume you have are contributing to a 401k to at least the percentage of company match first?




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post #3 of 4 (permalink) Old 06-25-2008, 08:54 PM Thread Starter
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Quote:
Originally Posted by HDTony View Post
Everybody tells me roth which is what I did. Can I assume you have are contributing to a 401k to at least the percentage of company match first?
Actually my company doesn't contribute any more, cheap asses.

<------ Jason
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post #4 of 4 (permalink) Old 06-25-2008, 08:57 PM
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Choose a Roth IRA if you can do without the tax break right now. It's a more flexible instrument, because:

It allows you to withdraw your contributions at any time, penalty- and tax-free.
You do not have to take mandatory distributions at age 70 1/2.

Choose a traditional IRA if you need that tax deduction right now, or you anticipate paying taxes at a significantly lower rate in retirement.

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