Discover the tips and strategies that will help you achieve your retirement goals.

I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.

It all starts right here on Ready for Retirement. for retirement.

Hi, everyone, welcome back to another episode of Ready for Retirement.

I'm your host, James Knoll.

Today's episode is all about IRA, so traditional IRA versus Roth IRA contributions, but not in the way it's typically

framed, which is from a federal income tax standpoint. Today's episode is from the state

income tax standpoint, which is the side of things that gets a lot less attention.

This question, or this episode comes from a listener question, and the listener's name is

Carmen and she says this. She says, hi, James. First, I want to say thank you for all the

information you provide to help clarify slash plan for retirement. It has helped me immensely.

You have a way of explaining things that makes it easy to understand this complicated and

sometimes scary topic. I am 63 years old, and I'm thinking of retiring at either age 65 or full

retirement age, which for me is 66 and 10 months. I have a traditional IRA with a company match up to

4%. In 2020, I was given the option to save to a Roth IRA and I did so. Originally, I was funding both

accounts. However, last month I changed to only fund the Roth and not the

traditional. My question is this. I'm considering a move to a more retirement-friendly state like Florida,

for example, which does not tax retirement accounts. Should I have bothered at this point to open a

Roth, and most importantly, should I continue funding only the Roth or switch back to fund

the traditional

IRA instead? Best regards, Carmen. Well, Carmen, thank you very much for that question. I'm glad that

you're asking it because, as I mentioned in the intro, the state income tax side of things is not

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