Roths, which get you a tax break upon withdrawal, are nowhere near as good as they’re made out to be, the father of the 401(k) says.
When I talked recently with Ted Benna, the man often credited with inventing the 401 plan, the subject turned to the vexed issue of Roth and “traditional” IRAs.
That’s partly because most of us are likely to face lower tax rates in retirement than we do while we’re working, so a tax break then will be worth less than one today. If that happens, anyone with a Roth will effectively be taxed twice: Once when they put money in, and then when they take it out.
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