The 401(k) vs. the Roth IRA. Which is Better?

Pitting retirement accounts against each other is not quite as thrilling a comparison as others, but the exercise is important as young families make plans for building future wealth.

Two of the most popular retirement accounts--401(k)s and Roth IRAs--are nearly identical in purpose but worlds apart in their composition.

In this post I’ve broken the main characteristics of 401(k)s and Roth IRAs into four categories. It’s impossible to make a true “apples to apples” comparison of these retirement accounts, but I hope this can get you a little bit closer and help your family make smarter decisions around your retirement.

What to Do With Your 401(k) When You Retire

If you’re approaching retirement with a healthy 401(k) nest egg, you have a lot to be proud of. You’ve likely led a career of hard work at a job that--let’s face it--you probably didn’t love all the time.

Now what? Making the decision of how to take your hard-earned savings and live on them for 25 to 30 years is serious business. Among the many concerns of most families: What if I outlive what I saved up?

Here are four commonly considered approaches to handling your 401(k) retirement funds--along with some pros and cons for each.

What's the Difference Between Term and Permanent Life Insurance?

Life insurance isn’t the most thrilling topic, but there are many tragic stories of a family’s breadwinner passing away, with no life insurance in place to speak of. If you’re smart, you’ll do all you can to have at least some protection for you or your spouse, and perhaps both.

But what kind of life insurance is right for you? Knowing which type of life insurance to purchase usually starts with the discussion or two basic types of life insurance: term insurance and permanent insurance. 

How a Young Family (With Kids) Quit Their Jobs to Spend a Year in Ecuador

“You are so lucky!” is the common refrain when others hear about the adventure my family is on. But was it actually luck?We are currently eight months into our one-year family adventure in Ecuador, connecting as a family through adventure and the unknown.

My girls have been attending school taught completely in Spanish. Michelle and I have also been learning Spanish as well as working on personal side projects. Our family has traveled to fascinating places including high mountains, desert beaches and deep Amazonian jungles. We are truly having the experience of a lifetime.