|Not Choosing Roth Can Cost You Thousands
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|Author:||sgtnichols [ Fri Feb 08, 2019 10:32 am ]|
|Post subject:||Not Choosing Roth Can Cost You Thousands|
When it comes to investing for your retirement in either a traditional IRA or Roth IRA, most folks oversimplify by calling one post-tax and the other pre-tax, respectively. There's more to it than that.
With a normal IRA you pay tax on the contribution AND the growth. With a Roth IRA, you pay tax ONLY on the contribution.
Because of this difference, traditional IRAs can cost you tens of thousands of dollars more in taxes over a lifetime. Be smart. Invest in a Roth IRA instead.
The same tax rules apply to traditional TSP and Roth TSP options.
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