I am at an age where I think about retirement. When can I retire? Will I ever feel I’ve saved enough money? How much money is enough? Is there such a thing as enough money? As Woody Allen said, “Money is better than poverty, if only for financial reasons.”
IRA
Roth IRA or Traditional IRA, Which is Right for Me?
Are you asking these questions? You’re not alone – many struggle with the question: Which type of IRA – Roth or Traditional – is right for me? This uncertainty can cause “Deer in the Headlights Syndrome.” Too unsure to decide, not wanting to make a mistake, and the fear of making the wrong decision stops us dead in our tracks.
Whenever uncertainty arises in conjunction with a need for a decision, what do most people do? Nothing.
Well don’t do nothing, and the first step is to arm yourself with knowledge.
Roth: A good choice while you’re young
I remember when I got my first job out of college, and my starting salary was $30,000. I felt rich! It was the first time in my life that I wasn’t earning an hourly paycheck. But, it was also the first time in my life that I was responsible for all of my own living expenses—rent, car payment, car insurance, groceries, taxes… After federal and state tax withholding, what I thought of as my fat paycheck, was stretched to its limits.
