So you are saying you would rather pay taxes on $510,000 rather than paying taxes on $7,000. Not sure I’m going to listen to your advice. A 20 year old who drops $7,000 into a Roth ends up with $510k at 65 (at 10% return on only that 7k). I don’t care what marginal rate you think you’ll have. Those numbers make it pretty clear that Roth is the better choice.
@MrNQDC I guess I would ask it this way. Would you rather pay taxes on $25,000 or pay taxes on $125,000 (after 30 years of growth). I would much rather pay the taxes on the 25k.
@bscholl I was going to pitch this idea to Elon. I was going to call it the Pot Hole Universal Knowledge for Monitoring and Evasion.
Could be used to avoid pot holes but also to shame the authorities into fixing them with an interactive map showing what city has the worst roads.
@MrNQDC@annjfl Let’s say I drop 30k into a Roth 401k it becomes 90k after 15 years. No tax on the 60k. Drop 30k in pretax 401k it becomes 90k in 15 years. Convert to Roth then pay tax on 90k. I can’t compute how that math makes sense. Can you explain it to me.
@TellsTimeWell@ClayTravis Clay is not a highly trained professional who trains for exactly this scenario. It is very hard. That is why we need real pros.
@DraftExpress He’s great against Portland and San Diego. Put him up against any real competition and he folds like a cheap suit. SMC is better off without him.