Ep 2: Choosing Between a Traditional vs Roth IRA

The traditional IRA has long been the popular retirement account for investors but the Roth is making up a lot of ground. Let’s explore the differences between the two and help you understand why you might choose one over the other.

When it comes to retirement planning, many people begin that journey with an IRA. Whether it comes through an employer or done on its own, the traditional IRA has been a popular route for many people to start saving long-term.

Over recent years, however, the Roth has been garnering more attention. That’s even more true in 2020 with the SECURE Act being passed into law.

So what’s the difference between the two and why would you choose one over the other? Well, the answer always starts with ‘it depends’ because every person’s situation is going to be different, but we’ll answer that question on this episode of The Retirement Huddle podcast.

We’ll lean on Mark Howard’s experience to explain the key details for each account. Find out why one question about taxes will go a long way towards helping you decide and some of the considerations you need to make for choosing one or the other. Plus, Mark will give his opinion on whether the Roth will continue to be a popular planning tool for the clients he works with.

Thanks for listening to this episode. We’ll be back for another show every other Thursday.

Today’s rundown:

[0:50] – What’s the difference between a traditional IRA and a Roth?

[3:30] – Why have people used the traditional IRA for so many years?

[4:29] – Why is the Roth so powerful for most savers?

[5:51] – Does Mark believe the Roth will be a popular tool as we move forward?

[7:09] – Are there certain people that would be better fit for a Roth or traditional?

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Show Hosts

The “Coach” who will help you achieve a successful retirement future and the radio veteran who brings it all together.

Mark Howard - The Coach

Mark Howard is the President of Howard Financial Group and has more than 27 years of experience in the insurance, wealth management and financial services industry. He's also the host of the Retirement Huddle Podcast and radio show on 97.7 WTKS.

Ron Stutts - The Voice

Ron Stutts has been a professional communicator for more than 40 years. With a successful radio career that spans decades, Ron's voice has been heard on dozens of radio stations and podcasts across the country.

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