To answer the question of Roth vs. Traditional IRA, they chose to “bite the tax bullet” now and enjoy tax-free withdrawals. It's the same for retirees who converted a traditional account to a Roth. (Their heirs will also inherit the tax-free accounts.) Let's take a look at the Roth vs. Traditional IRA.
With job loss can come questions of what to do with retirement savings such as your 401(k) plan. A rollover to an IRA may be good move for you. Here are three reasons why:
The Coronavirus Aid, Relief and Economic Recovery Act (CARES Act) was signed into law on March 27. It includes several important retirement-related provisions. Because some of these provisions are confusing, several CARES Act misconceptions have arisen.
Despite the ubiquity of Roth accounts, there are some common misunderstandings about how Roth IRAs and Roth 401(k)s operate and interact with each other. Confusion swirls around such basic concepts as contribution limits, eligibility and Roth rollovers.