Business
In this episode, Luis talks about the Roth IRA vs. the Traditional IRA as well as Roth 401K and Traditional 401Ks and how to decide which one is best for you. Luis came to the U.S. at age 11 from the Dominican Republic. Growing up in New York City, he noticed the lack of financial literacy in his community and was inspired by his parents to work hard and pursue an education. He founded Build a Better Financial Future LLC and is the host of the On My Way to Wealth podcast. Luis was named one of InvestmentNews 40 Under 40 in 2019 and Financial Advisor Magazine’s 10 Young Advisors to Watch. From participating as an FPA NexGen Ambassador to speaking at the CFP Board’s Diversity Summit, Luis uses his platform to help spread financial literacy as well as encourage younger and diverse planners to join and thrive in the industry. Notes: In this episode, you’ll learn about the following: The history of the Roth IRA What to do before you consider whether the Roth IRA or Traditional IRA is right for you Contribution limits for the Roth and Traditional IRAs Income limits for the Roth and Traditional IRAs Roth conversions and opportunities during COVID-19 Resources: IRS Income and Contribution Retirement Plan Limits On My Way to Wealth podcast Build a Better Financial Future LLC Luis’ Twitter Luis’ LinkedIn Luis’ Instagram Luis’ Facebook