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New Roth option
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<blockquote data-quote="brett636" data-source="post: 861721" data-attributes="member: 249"><p>Uh, hate to burst your bubble, but you may have read this wrong. One of our investments options is a Roth <strong>401k</strong>. We can roll over our account when we turn 59 1/2 to a Roth <strong>IRA</strong>. Hope this helps you.</p></blockquote><p></p><p>While his terminology was off the benefit is still the same. Contributing to a roth 401k is still after tax money that grows tax free and is withdrawn tax free. Another way of putting it is 10% to 20% of every dollar in your traditional 401k goes straight to the government when you withdraw it. So contributing to a roth 401k is like adding 10-20 percent more to your retirement savings since you don't have to pay taxes on it when it is withdrawn.</p><p>[/QUOTE]</p>
[QUOTE="brett636, post: 861721, member: 249"] Uh, hate to burst your bubble, but you may have read this wrong. One of our investments options is a Roth [B]401k[/B]. We can roll over our account when we turn 59 1/2 to a Roth [B]IRA[/B]. Hope this helps you.[/QUOTE] While his terminology was off the benefit is still the same. Contributing to a roth 401k is still after tax money that grows tax free and is withdrawn tax free. Another way of putting it is 10% to 20% of every dollar in your traditional 401k goes straight to the government when you withdraw it. So contributing to a roth 401k is like adding 10-20 percent more to your retirement savings since you don't have to pay taxes on it when it is withdrawn. [/QUOTE]
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