I Absolutely Prefer a Traditional 401(k) to a Roth IRA for Retirement Savings. Here's Why.
The reasons for my preference aren't complicated, and likely apply to most other investors.
Are you looking to optimize your retirement savings options now to maximize your income later on? It's easier said than done. Different types of retirement accounts impose different contribution limits. There are also differing tax consequences with different kinds of accounts. Some of them postpone taxation of this money until it's withdrawn, while others allow money to be accessed tax-free in retirement but offer no tax break right now.
As for me and my situation, though -- and I suspect a bunch of other people's as well -- I'm a huge fan of the ordinary 401(k) that you're most likely offered at your place of work. Here's why.
There are several different kinds of retirement savings accounts. There are only a couple of major types of these accounts, however.
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