In this video as part of the Motley Fool's "Ask a Fool" series, senior advisor to the Motley Fool's Rule Your Retirement service Robert Brokamp takes a question from a Fool reader, who asks, "If you had the option to invest in a traditional 401(k) or a Roth 401(k) which would you invest in and why? I have been contributing to a non-employer matching traditional 401(k) for years and now I have the option to also start a Roth." Robert breaks down who benefits best from a Roth account and who would be better off sticking with the traditional 401(k).
Torn between the traditional 401(k) versus a Roth account? Here's the Fool's Robert Brokamp to give you the pluses and minuses of both and help you make the best decision.
About the Author
Robert Brokamp, CFP®, is a Senior Retirement Advisor and Financial Planning Expert at The Motley Fool, where he has worked since 1999. He serves as a Senior Advisor for GamePlan and hosts the Saturday episodes of the Motley Fool Money podcast. Robert serves on The Motley Fool’s 401(k) and Financial Wellness committees and is the author, co-author, or contributor to eight Motley Fool books. Before joining The Motley Fool, he was a Financial Advisor at Prudential Securities and an English teacher. He holds a B.A. in English and pre-med from The Catholic University of America; an M.A. in Teaching Secondary English from Trinity Washington University; a Graduate Certificate in Financial Therapy and a Master’s in Personal Financial Planning from Kansas State University; and a Certificate in Financial Planning from Georgetown University. Robert also volunteers as a tax preparer for the IRS VITA program and serves on the board of Together We Bake, an organization providing workforce training and personal development to women facing employment barriers.