081: Saving with Pretax Contributions or Roth Accounts and Minimizing Your Tax Liabilities

The Retirement Trainer

After a brief hiatus, we’re back with a timely episode to answer a popular question: Is it better to save with pretax dollars or a Roth?

Inflation continues to be an issue in today’s economy, which is why it’s so important to make every dollar count. Everything is more expensive now, and saving for retirement is not a one-size-fits-all plan because everyone’s situation is different.

In today’s episode, we’ll explain the difference between saving with pretax contributions or a Roth, how using your savings for vacations or emergencies can impact your income at tax time, and why making the wrong decisions early on can have significant consequences on your income taxes in retirement.

In this podcast interview, you’ll learn:

• How inflation is essentially a hidden tax that impacts your savings.
• The biggest difference between savings pretax or in a Roth.
• Reasons why having your savings all in pretax dollars could be an issue later.
• Why Roth accounts are still highly recommended for young investors.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com

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