Tax planning might not be the most exciting topic, but it's certainly an important one. In this week’s episode, Scott and Marc chat about the differences between traditional 401ks and the increasingly popular Roth 401k when it comes to taxes. For pilots, the 401k is often the largest wealth-building tool, so it’s very important to understand how to navigate them and how they could affect your taxes now and in the future.
Here’s some of what we discuss in this episode:
0:00 – Intro
1:09 – Sub-accounts in a 401k
3:45 – Advantages of Roth 401ks
5:31 – Tax planning checklist
7:22 – Company matches
9:44 – Getting your 401k debt free
Check out the Tax Planning Checklist HERE
Resources:
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The “When I Die” binder: https://retireairlines.com/wp-content/uploads/2024/10/Scott-O-FILLABLE-BINDER-10.22.24-1.pdf
Watch the podcast on YouTube: https://www.youtube.com/@retireairlines
