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Brown Cafe UPS Forum
UPS Retirement Topics
Just started my 401k, thoughts?
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<blockquote data-quote="brett636" data-source="post: 1218684" data-attributes="member: 249"><p>The flaw in your logic comes in when you say a ROTH IRA is good while a ROTH 401k is not. Both are treated the same when it comes to taxes, and dipping into your retirement account prior to actual retirement is a bad idea because it significantly reduces your future savings by denying you today's contributions along with tomorrow's compounded growth. Not to mention you are ignoring the income tax rates and what they will most likely be in the future. I can't say exactly what they will be, but I am willing to bet they will be higher than today's income tax rates. A retiree 30 years from now may be paying the same tax rate as they do today on a lower income because the government just can't survive without the higher rates. Its a bit of a gamble, but a safe one in my book. I am exclusively contributing to my ROTH 401k, and I disagree that this is a bad plan of action for my retirement.</p></blockquote><p></p>
[QUOTE="brett636, post: 1218684, member: 249"] The flaw in your logic comes in when you say a ROTH IRA is good while a ROTH 401k is not. Both are treated the same when it comes to taxes, and dipping into your retirement account prior to actual retirement is a bad idea because it significantly reduces your future savings by denying you today's contributions along with tomorrow's compounded growth. Not to mention you are ignoring the income tax rates and what they will most likely be in the future. I can't say exactly what they will be, but I am willing to bet they will be higher than today's income tax rates. A retiree 30 years from now may be paying the same tax rate as they do today on a lower income because the government just can't survive without the higher rates. Its a bit of a gamble, but a safe one in my book. I am exclusively contributing to my ROTH 401k, and I disagree that this is a bad plan of action for my retirement. [/QUOTE]
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Just started my 401k, thoughts?
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