#23: Traditional vs Roth Retirement Accounts: What’s the Difference?

In this episode of Wealth Para Todos, host Rita-Soledad Fernández Paulino addresses a listener's question about how to convert a traditional 401k to a Roth 401k. Soledad explains the basics of traditional and Roth retirement accounts, including their pros and cons, tax implications, and strategic planning for conversions. The episode also emphasizes the importance of financial literacy and offers practical steps for investing in the stock market. Additionally, Soledad stresses the value of community support and self-care while navigating financial decisions. Listeners are encouraged to book a discovery call for personalized financial coaching. 00:00 Introduction and Mission 00:21 Listener Question: Traditional 401k to Roth 401k 00:56 Current Events and Personal Reflections 01:46 Basics of Investing in the Stock Market 05:06 Understanding Retirement Accounts 06:16 Traditional vs. Roth Retirement Accounts 12:58 Steps for Roth Conversion 16:47 When to Consider a Roth Conversion 19:27 Converting Traditional Accounts to Roth IRAs 21:23 Final Thoughts and Next Steps Tax brackets for 2025Sign-up for Roth IRA Office HoursBook a Discovery Call to Learn More About 1:1 Coaching w/Soledad