Retirement question: Currently 23 and will max my 401k ($19,500) but wondering if Roth or traditional is best here? Currently 24% tax bracket, so with a Roth I will be taxed upfront $4680, but if I go traditional I will additionally put $4680 to work in a traditional IRA (essentially either way I will be committing $24,180 to retirement yearly). In this case, would a Roth or traditional be a better choice? I feel more invested early to compound is important, but will taxes be exuberant in 40yrs?

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It depends on your tax bracket in the future when you retire. At that time, you will get social security, pension, income from other taxable investments. I would chart out how much money you will accumulate in each bucket by then.

I'm doing 100% roth just because I feel tax would increase at the rate that we are printing money right now...

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I am the same age and I personally have opted for the Roth 100% until I am in my 30s and my employer match goes into the traditional piece.

My view point is that my income is only going to go up over time and at this age it has so long to build tax free that it’s worth it then I will stage it over the years as I get older

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Do Roth now while the pretax contribution is not as beneficial. You want a mixture of taxable and nontaxable income when you retire.

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Past the 22% bracket is generally when traditional is recommended. You can get Roth through your IRA. I would avoid a traditional IRA, as it will make Backdoor Roth contributions trickier in the future when you need to.

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Appreciate the responses everyone; will more than likely do an 80/20 split between Roth/traditional!

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I agree sometimes it takes talking through it as google is going to often keep it vague and their is varying strategies

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Just to add to it in my opinion tax bracket may not be best way to look at it like I said my strategy is age based I will change strategy at 30 then every 5 years move the needle more and more traditional

Every try asking Google this same question? Not sure this bowl is meant for personal finance advice that could be solved with common sense

I wanted opinions, researched it a ton before making the post and was already guided on the route I was going to take. Also not necessarily a common sense question when the information online is based off of American averages; makes it irrelevant

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