Your 401K is a Waste of Time
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The most popular form of retirement investing is the 401(k) plan, which allows employees to contribute pre-tax dollars to a retirement account. However, the article argues that this traditional 401(k) plan is not necessarily the best option, especially for high-income earners. The article also explores the differences between traditional and Roth retirement accounts, such as the tax implications and benefits of each. The author suggests that an ordinary brokerage account can be a better option for many people, as it offers greater flexibility and potentially lower taxes. The article also touches on the risks of having to pay high marginal tax rates in retirement, especially for those with large retirement accounts. The author argues that a Roth IRA or Roth 401(k) may be a better choice than a traditional 401(k) for many people, and that an ordinary brokerage account can offer better tax benefits and no limitations. Overall, the article encourages readers to think carefully about their retirement options and to consider the pros and cons of each before making a decision.
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