Despite all the shade thrown on 401k plans in the press this year, I would gladly take a 401k over other retirement account alternatives. The individual choices and flexibility of 401ks can be outstanding for those who know how to use it,
As you may know, there are two different flavors of individual retirement accounts (IRAs): the traditional IRA (think: Vanilla) and the Roth IRA (um, Chocolate?). Each flavor has it’s unique benefits. By combining the advantages of each account type, you can dramatically reduce your taxes for many years.