Roth at tax time
Is there a benefit for one close to retirement (-1 year) to max out a Roth contribution after years of contributing to a 401K. I realize this maybe a vague question but i just can’t see where the benefit is. April 15th is right around the corner.
Thanks
Terry Says
There is no tax benefit to a Roth contribution – except the fact that the money will continue to grow tax-free during your retirement. The April 15th deadline applies to a DEDUCTIBLE contribution to a TRADITIONAL IRA, which could reduce your tax obligation this year.
