The damage an overreliance on financial jargon can do to participant confidence and, by extension, the advisor’s business is well-documented. Still, a new survey brings it (yet again) into stark relief. It might make the advisor sound smart while making the client anxious and overwhelmed, and some argue it’s intentional. If they keep it complicated, consumers think they need advisors to sort it all out.
FirsTrust's CIO, Chris Cannon, co-hosts the CFA Society Orlando Investors First Podcast: Jan van Eck: Back to School, a Lesson in Financial History.
"…….In reality, the Roth is just another tax strategy with pros and cons like all the others. If you choose to save your retirement dollars in a Roth IRA or Roth 401(k) instead of a traditional IRA or 401(k), you will be giving up some tax breaks. It could even turn out that a traditional IRA or 401(k) would have been a better option for you……."
While a Roth IRA is an excellent tax strategy, that doesn’t mean you should underestimate the benefits of a traditional tax-deferred retirement account.
The SECURE 2.0 Act makes major changes to retirement savings plans. Here's what you need to know.
