Can you believe it? Today was my 100th segment on NBC’s Today Show! If you missed me this morning on Money 911 make sure to check it out now! We answered questions about investing, emergncy funds, credit scores and using your 401k plan for home improvements.
Plus dont’ miss the special video I did below, where I share how YOU can earn 3% on your money in 2012!
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
Great segment on NBC’s Today Show – Money 911! Today we only answered questions that were submitted through twitter! Don’t miss the chance to get your money questions answered next time we do this! Make sure to follow me on TWITTER!