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11359235 No.11359235 [Reply] [Original]

so whole roth 401k is basically a lie... you CAN'T withdraw before 59 without penalty or fee... why would anyone pick Roth over traditional 401k ?

>> No.11359264

>>11359235
or is it loophole for boomers for sole purpose of rolling over to Roth IRA and buying stocks with it ?

>> No.11359287

You don’t pay taxes on income or capital gains from your investments while the money sits in the Roth noob

>> No.11359316

>>11359287
it says right on top - pay current income tax.

>> No.11359983

>>11359316
God you're dumb

>> No.11360064

>>11359235
Don't do either. You can't cash out in time to respond to crashes or global economic collapse.

>> No.11360102

>>11359235
Uh..there’s penalties on early 401k withdrawals too (unless you w/draw as a loan)

>> No.11360125

>>11359316
You're an idiot.

>>11360064
Your IRA sucks than. I moved all my funds into bonds and gold 2 days ago. Also picked up some GBTC. Let's watch this thing burn.

>> No.11360157

401k has 100k —-> rollover to Roth IRA pay 15% taxes —-> Roth IRA now has 85k —-> IRA 85k grows to 150k over 20 yrs without paying taxes —-> Retire

>> No.11360239

You can withdraw contributions at any time penalty free.
Only earnings are subject to requirements.

>> No.11360936
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11360936

>>11360125
>gold
anon, I...

>> No.11360958

>>11359235
Well... technically if you retire early, just leave it for a year and then you'll pay a lot less tax on it as it counts towards earnings for the year.

>> No.11361190

>>11360125
>he buys paper gold
who's a good goy?

>> No.11361270

>>11360125

>bonds

>> No.11361353
File: 76 KB, 684x546, 80325723.jpg [View same] [iqdb] [saucenao] [google]
11361353

>>11360125
>Also picked up some GBTC

>> No.11361646

>>11359235
You are supposed to have both a 401k and an Ira. The better question is Roth or traditional ira and that can't be answered without knowing your current tax rates and your retirement tax rates.