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.

And today we're going to be working through a listener question.

So here's the question.

The question says, thank you for taking my question.

You're welcome.

I'm 58 years old and my wife is 61 and we both work for the same company and all of our retirement is invested in a traditional employer provided 401K. We have approximately $750,000 in this plan.

I have $500,000 and she has $250,000. My question is, our employer just announced that a Roth 401k option is being

added to our plan. Should we switch and start contributing to it? Or is there an option to split any

percentage to either of the plans? I hear so much about Roth, but I'm trying to figure out what is our

best option for future tax implications. Thank you. Well, thank you for your question. This question is from

Jim. So, Jim, thanks for their question. And it's a good one. And at the end of the day, what the

question is asking is it's saying, I know it's not just enough to focus on getting good returns

and having a good account balance at retirement. It's really all about understanding what will

my account balance be net of taxes or what will my returns be net of taxes throughout retirement? And how do we even look at that? There is a lot about Roth IRAs.

Whether it's Roth IRA contributions, whether it's Roth 401ks, whether it's Roth conversions,

this can get very overwhelming very quickly. So my goal on today's episode is to look at this

from the standpoint of what are the key variables

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