The financial expert says millions of Americans are making this retirement mistake and it could cost them big time.
Transcript:
SUZE ORMAN: Probably my most controversial really is forget a traditional Roth, forget a traditional IRA and just do a Roth. There’s so many people that go, oh, Suze, you’re just so wrong. You should absolutely take advantage of the tax write off and we’ll show you all the numbers. All I know is we are so far in debt as a government. And don’t tell me that eventually tax brackets aren’t going to have to go up. How else are they going to pay for this debt? Let’s just get real and it doesn’t matter who’s in office right now. Eventually that will change and then the laws will change. So just simply invest in the known versus the unknown. What’s the known? The known is right now you have the lowest tax brackets ever. What’s the unknown what they’re going to be in the future. So forget investing in a traditional IRA or 401(k).
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