I know I have a few friends who are financial planners, but all input is welcome. I continuously receive mixed messages on whether or not my 401k contributions should be pre-tax or Roth. My dad (who has a Masters of Accounting) says I should use pre-tax dollars because they will compound over time at a much higher rate than if I were using post-tax dollars. He also said by the time Im using the funds I will be in a low tax bracket and therefore will have more money than if I had paid taxes at the time of contribution. However, I am in the lowest tax bracket now and Im hoping to be in a high tax bracket at the time of retirement :). I also like the idea of looking in my account and knowing that all that money is mine. Taxes paid. Please give me your input. Thank you!
Posted on: Thu, 14 Aug 2014 17:18:18 +0000
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