Does your 401K offer both pre-tax and post-tax contributions? Ever wonder which one you should select?
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"The following outcomes assume an annual rate of return between 7% and 8%. Salary, expenses and 401(K) contributions used in year 1 are increased yearly at an inflation rate of 2.31%. SS is excluded from all scenarios.
A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual."