401k vs Roth IRA by Emely Arce Rivera https://padlet.com/04earce/d0s7unw30t0ygnmn By: Emely Arce en-us 2021-04-20 15:02:57 UTC 2021-04-22 00:13:11 UTC hello@padlet.com https://padlet.net/icons/png/1f407.png Definition of a 401k 04earce https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444870907 A 401k is a retirement plan that allows employees of a company to invest for their retirement on a tax deferred basis. ]]> 2021-04-21 23:26:20 UTC https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444870907 401k: Advantages and Disadvantages 04earce https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444906040 1. An advantage is that your employer can offer to match your investment 
2. Another advantage is that anyone can invest in a 401k regardless of income 
1. A disadvantage is that you might have to wait some time to participate in a 401k plan if you are new to the company 
2. Another disadvantage is that there might be fewer options for mutual funds]]> 2021-04-21 23:45:27 UTC https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444906040 Definition of a Roth IRA 04earce https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444931784 A Roth IRA is a retirement savings account that you can open yourself and contribute using after-tax money]]> 2021-04-21 23:58:43 UTC https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444931784 Roth IRA: Advantages and Disadvantages 04earce https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444943620 1: An advantage is that since you invest with money already taxed, you won't pay taxes when withdrawing money at retirement
2: Another advantage is that there are more investing options 
1: A disadvantage is that it has a contribution limit that is less compared to the 401k
2: Another disadvantage is income limits ]]> 2021-04-22 00:04:21 UTC https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444943620 My Option 04earce https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444960326 I would choose the 401k because I think that the advantages are better like being able to get a match from your employer which is great cause its free money. Although it has disadvantages I still think I would chose it. ]]> 2021-04-22 00:11:28 UTC https://padlet.com/04earce/d0s7unw30t0ygnmn/wish/1444960326