A 401(k) contribution can be an effective retirement tool. The Roth 401(k) allows you to contribute to your 401(k) account on an after-tax basis - and pay no taxes on qualifying distributions when the money is withdrawn. For some investors, this could prove to be a better option than contributing on a pre-tax basis, where deposits are subject to taxes when the money is withdrawn.
Use this calculator that compares costs and savings scenarios of traditional 401k to a Roth 401k to help you determine the best option for your retirement. Just add your Current age, projected retirement age and your yearly 401(k) contributions.
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