@sebc23
Sebastian Cahill
@sebc23 · 0:49

practical differences between 401k and Roth IRA account?

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If you have one or the other, what's been your experience with it, and in your opinion, is there one that's kind of more beneficial over time? I have basically zero experience with this, so I would be really interested to hear what other folks accept to say and get some advice from you. Yeah. Thank you so much

#rothira #401k #moneymanagement

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@kylecrossman
Kyle Crossman
@kylecrossman · 2:56
So it really just depends on how you think you might be investing in your own investment strategies. I personally have a Roth IRA and I think it's just a better option. It allows more flexibility and if you have great gains on what the securities you've invested in, then it can really work out to be a much bigger advantage. But I'm has some great information. I would totally start there and then really just try and educate yourself on what you think is best for you
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@kylecrossman
Kyle Crossman
@kylecrossman · 0:44
Also something to mention about Roth IRAs is that you have a max contribution limit, and that's $6,000 a year. So you can't go over that or it's the max. If you you make, like, less than $6,000 a year, the most money you can put in is the total amount that you made that year at your job. And also, when you have investments in your Roth IRA, you can buy and sell securities and move them around between wherever you want
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@Phil
phil spade
@Phil · 2:40

Clarifying Question

But after that money goes through the taxes, then you're able to contribute that into the Roth four hundred and one K and when you pull that money out it is tax free. Now that's the way the legislation is right now. I will tell you that there are some people that believe that over the course of time legislation is going to change and they're going to start taxing that Roth four hundred and one K. I find that hard to believe
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