Are you in the camp that says I prefer to live my life now with all its benefits, OR are you a person that delays gratification for a future reward?
Yep, that's certainly true. However, what’s VERY different is when you withdraw that money at retirement.
Listen in as Dave will share how one IRA will net you a considerably higher sum at retirement!
What? How can that be?
If right now you're going, "I have NO idea what Dave is talking about…Roth, Traditional, Pre-tax, after-tax??? It’s all Greek to me."
Well, hang in there as Dave does his best to make it a bit more clear… That said, if you take nothing else from this episode, take this - NO matter your age, begin to save NOW for your retirement.
Sure you need to have a basic knowledge of the subject, but honestly, the most important issue is to START saving systematically with automatic withdrawals from your paycheck and straight into your retirement account.
Today you are going to learn the key benefits and drawbacks of both Roth IRAs and traditional IRAs.
Dave has a clear favorite and you will learn why it likely makes sense for you in this episode.
Questions for Review:
- Do you know what the difference is between a Roth IRA and a Traditional IRA?
- If you had $1M at retirement in a Roth IRA and $1M at retirement in a traditional IRA, which one would be worth more at retirement? Why are the numbers different?
- What step do you need to take today to invest in an IRA?
Verse from the Episode: "Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it." -Proverbs 21:20