Is ROTH 401(k) Better Than A Traditional Plan?

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Check out the latest video I did for Today.com!

Question: I just started my job about a month ago and we have the option of a traditional 401(K) and a ROTH 401(K). I am 22 years old, have a long career ahead of me and don’t have huge amount of expenses. Which would you suggest?

My Advice:
- Your goal is to max out the retirement account
- You can use a traditional 401(k) and get a tax deduction
- Or have no tax deduction upfront with ROTH 401(k) Plan – (but remember you will have to pay taxes when you take the money out later.)
- I suggest, put half into each of the plans

Hope this helps!

Live Rich,

David Bach

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My Exclusive Interview With John Assaraf

Check out the thought-provoking interview I did with my good friend and New York Times bestselling Author of The Answer and Having It All – John Assaraf.

In this interview you will learn:

  • Critical rules of investing
  • My perfect pie investment approach to help secure your financial future
  • The #1 investment habit you must adopt before it’s too late
  • The best method to reduce your interest rates and pay off your debts—fast!
  • The single most important decision you can make right now to get out of debt
  • A mortgage oversight that banks sometimes never tell you about
  • Pitfalls to avoid when refinancing your mortgages
  • And much, much more!

Enjoy and let me know what you think by commenting below!


Live Rich,
David Bach

P.S. Make sure to vote for me in on GoBankingRates.com 12 Days of Finance: Who Is the Most Popular Expert of 2011?

NBC’s Today Show – Money 911 – December 14, 2011

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Hi friends,

If you missed me this morning on NBC’s TODAY show “Money 911” segment make sure to watch this clip. Learn my recommendation for how to invest and budget after getting a hike in pay!

Also, I wanted to take a second and say a quick hello and Happy Holidays to all of you! Check out my quick message to you!


 

Live Rich,

David Bach

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How to Maximize Your Credit Card Rewards Program

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Check out the latest video I did for Today.com!

Question: I’d really like to find a credit card that has the best airline mile rewards. I won’t be traveling much, so the miles are going to be saved up for big trip purchases. Do you have any suggestions for a card great accumulating no hassle miles?

Answer:         
- Pick a generic credit card with a variety of point offers
- Look at how many points you get per dollar you spend
- Check out CreditCard.com to compare card offers
- Check your mail for good offers!

Hope this info helped you!

Live Rich,
David Bach

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NBC’s Today Show – Money 911 & Live Chat – November 30, 2011

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Hope you were all able to tune in to NBC’s TODAY Show Money 911 and watch me answer America’s Money Questions, if not watch the video above. Afterwards, I did a live chat where I answered MORE of your questions! If you missed the CHAT make sure to CLICK HERE and check it out! Hopefully, my answers can help you!

Live Rich,

David Bach

 

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4 Tips For Saving On Holiday Shopping

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Make sure to check out my latest video from Today.com about ways to save when it comes to Holiday Shopping! I discuss my Top 4 Tips on how you can save BIG this Holiday Season, then we take some tips from Today Show Viewers on their ways to save!

MY TOP 4 TIPS -
1) Create a holiday shopping budget – from the very beginning!
2) Make a list for the people you MUST buy gifts for.
3) Shop online at stores like amazon.com (that’s where I do the majority of my shopping.)
4) Shop early to get the best bargains!

Live Rich,

David Bach

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Should You Consolidate Your Debt?

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Hi all,

Each week, for the next 8 weeks, I will be answering questions from viewers of NBC’s TODAY Show on TODAY.com. Check out my first Q&A on the topic of debt consolidation. Get my advice on consolidating debt from multiple credit cards and then learn the mistakes many people make when doing it.

Live Rich,

David Bach

 

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NBC’s Today Show – Money 911- November 2, 2011

Visit msnbc.com for breaking news, world news, and news about the economy

For all of those who missed me on NBC’s Today Show – Money 911 this morning make sure to check out the segment now! Today we discussed 401ks, the best online budgeting websites, and student loans. Enjoy!

 

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