Roth IRA or Standard IRA
Roth IRA or Standard IRA which should you get? The never ending debate has always been between a standard IRA and a Roth IRA. With a Roth IRA, the money you put in gets taxed when you put it in. This means you can take the money out tax free. When you put money in a standard IRA, it gets taxed when you take it out, so it goes in tax free.
For years every April I put money in my IRA , so I could save on taxes. It was like clockwork and it made me feel better about my retirement. Then came the ROTH IRA and I was assured it was a better deal. I was a little upset that I did not get the tax deduction. Still when I thought about getting all my retirement money tax free, it seemed like the best option. I started to put the funds in the ROTH.
Then the accountant showed me that it really didn’t matter whether I put my money in the Roth IRA or Standard IRA the money worked out to be the same in the end. He showed me the numbers so I had to believe him. Yet I felt uneasy about these new facts about the Roth IRA or Standard IRA. I couldn’t out my finger on it, but I felt like there was something more.
As my husband, Lee and I talked about it we cam to realize the one fact that made all the difference in our choice. Sure the accountants will run the numbers and will say, “So you should get the same amount of money, no matter what choice.’ They are forgetting one little detail… Check out the video for details on which one is actually better.
