Roth vs. Traditional Contributions
For those actively working, there are many benefits and other financial decisions to make each year. One key decision is associated with your employer savings plan. Many of us hear the term Roth and aren’t quite sure what it means. It is a type of contribution that you can make to a retirement account after tax. Roth is an alternative to “traditional” contributions which are pre-tax. Use this flow chart to learn more about traditional and Roth contributions. The flow chart will help you think through which path (traditional and/or Roth) might be best for you.
Promotions
When you receive a work promotion or move roles within or to another company, there are some decisions to make. It is a good time to revisit your financial plans for today and the future. Changes in your income can affect current and future cash flow, retirement plans, and your taxes. This checklist is a great resource to review when a career change or promotion / compensation increase occurs.
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