Is a Roth 401(K) Right for You?

First available in 2006, the Roth 401(k) is a relative newcomer to the retirement savings world, and employers were slow to adopt it. That has changed in recent years. A 2017 survey found that seven out of 10 large and mid-size employers with defined contribution plans offer Roth accounts, and another 15% were planning to add the option or considering doing so.

This Week, Craig Siminski, of the Equity Design Group, shares some helpful information with those who are considering whether or not a Roth 401(k) is their best option.

A Roth 401(k) is a separate account within the employer’s 401(k) plan that has tax advantages and limitations similar to a Roth IRA.

However, 401(k)s have much higher annual contribution limits ($18,500 for all accounts combined in 2018 or $24,500 if you are age 50 or older). And unlike Roth IRAs, there are no income limits for contributing to a Roth 401(k).

If the Roth option is offered in your workplace plan, you might consider its long-term…

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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 20 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.

For more information, give him a call at 920-569-8363, stop by his office – located at 2050 Riverside Drive in Green Bay –  Visit him on the web, or email him at [email protected].

Please remember to tell Craig the Green Bay News Network sent you!

CMS Retirement Income Planning

Craig Siminski is a Retirement Income Planner professional with over sixteen years of experience. His goal is to help ensure his clients will have enough income to maintain their dignity and independence in retirement.

Craig is committed to designing and implementing financial strategies that focus on his clients’ needs.  He seeks to be a lifetime resource for each and every client.

Give him a call at 920-569-8363 or email him at [email protected] and tell him the Green Bay News Network sent you!