Here's how to take the mystery out of picking the best retirement savings plan for you investinyou (In partnership with acorns.)
"A Roth 401 essentially allows you to put more money away than a traditional 401, even though the amounts are technically the same," he said.
There is just one caveat, Hogan pointed out. If your employer is offering a match, it is treated like the pre-tax 401, which you will pay taxes on when you take it out during retirement, he said.A traditional IRA is good for those who don't qualify for a Roth IRA or don't have a 401. An IRA can also be used to roll over any 401s from previous employers.If you are happy with the investment options in the plan, then you can roll it into your new 401 to keep things simple, he said.
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