Today, we are answering more of your Roth IRA and 401(k) questions. We talk about the difference between Roth and traditional IRAs and then answer a question about Roth IRAs for your kids. We talk about what to think about when changing your business 401(k) plan administrator and then explain what to do if you over-contribute to your 401(k).

Dr. Jim Dahle tackled this complicated question. He said when it comes to personal finance, two big questions often leave people scratching their heads: Should you pay off debt or invest? And should you make Roth contributions or traditional (tax-deferred) contributions? Neither question has an absolute right answer, and much of the decision depends on personal circumstances and future uncertainties. Even experts admit that with limited information, it’s impossible to give a perfect answer to these dilemmas. What matters is understanding the tradeoffs and making the best choice with the information you

Keep reading this article on The White Coat Investor.