401k vs. Roth IRA: Which One Is Right For You?

When you are just beginning to invest and your employer offers a 401k program where they will match your contributions to the account, it seems like a great idea. But that doesn't mean that you shouldn't look into a Roth IRA plan.

Ultimately, both have advantages and disadvantages. With a 401k, you can receive matching contributions from your employer. With a 401k, you can have access to the money that you've saved -though it may be challenging to get to your money dependent on the way the plan is set up. With a 401k plan, your account will be protected from credit card companies and other creditors.

However, a 401k plan does have one drawback vs. a Roth IRA. That drawback is that with many 401k and other employer-sponsored retirement plans, there are often limited investment opportunities.

In contrast, when your investments are in a Roth IRA, you will have more investment opportunities. Because a Roth IRA is not sponsored by your employer, it is a better way to invest if you believe that your job -or the company that you're working for -is unstable. Also, money that you save in a Roth IRA can be accessed more easily -including by your creditors, depending on where you live.

Of course, having easy access to the money that you are setting aside for retirement has its own drawbacks and advantage. One disadvantage to being able to access your retirement savings before you retire is that you may not be aware of how this will affect the income that's available to you when you retire.

But there are other steps that you can take to look at whether a 401k or a Roth IRA is the best way to go. One way to look at a 401k vs. a Roth IRA and to determine which would be a better way for you to save for and invest in your future is to download our free retirement calculator.

With our free retirement calculator, you'll be able to look at any of the savings and investments that you already have. You will be able to see how they have performed and how they are projected to perform over the next 25 years.

But the more beneficial tool that you will be able to access with our free retirement calculator will allow you evaluate the potential that the savings accounts, stocks, bonds and mutual funds that you are considering will have. You'll be able to see how a potential savings account or investment has performed.

In addition, you'll be able to see how those savings and investments are projected to perform in the future. When you look at a 401k vs. a Roth IRA, you will be able to see for yourself whether the 401k or the Roth IRA is more likely to benefit you and help you to reach your financial goals.

But when you download our free retirement calculator, you won't be on your own to decide whether a 401k or a Roth IRA is the right choice for you. You'll be contacted for a free consultation with a financial advisor.

During that consultation you'll be able to ask questions to help you choose: 401k vs. Roth IRA. You'll be able to get answers and advice that will help you to decide which type of account would better help you to reach your retirement goals. You'll be able to work with the financial advisor to develop the investment strategy that's best for you -the strategy that will ensure that you reach all of your financial goals.

When you look at the debate -401k vs. Roth IRA -you may find yourself confused. You owe it to yourself to stop that confusion before it takes hold of you, before you make the wrong decision.

When you download our free retirement calculator, you'll be able to solve the debate: 401k vs. Roth IRA -which one is better for you? Find out. Click the red button to download our free retirement calculator and answer the question.