About this episode
Wondering whether to contribute to a Roth or Traditional retirement account? Tim Ulbrich and Tim Baker break down key factors like tax brackets, Roth 401(k) access, and long-term planning tips to help you decide. Episode Summary One of the most common questions we get is: Should I contribute to a Roth or Traditional retirement account? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, break down the key factors to consider when deciding between Roth and Traditional contributions, including: ? Your current and projected future tax bracket ? How much you've already saved in each account type ? Roth 401(k) availability through your employer ? State income tax implications ? Whether you have the cash flexibility to consider Roth conversions ? How the Roth IRA's freedom from required minimum distributions (RMDs) can be a valuable planning tool If you've ever found yourself wondering which retirement bucket to prioritize, or if you're simply trying to be more tax-savvy with your savings, this episode is for you. ? Have a question for a future Ask YFP episode? Submit it here: info@yourfinancialpharmacist.com Mentioned on the Show YFP YouTube Channel YFP 405: Navigating Retirement Income: How to Turn Assets into a Paycheck Record a Question to be Featured on an Ask YFP Episode Email YFP: info@yourfinancialpharmacist.com
