If you start saving for retirement only in your later years and your income growth from that point is rapid, then ________.

Question

Quizplus · Accepted Answer

If you start saving for retirement late but your income growth is rapid, it's likely that you'll end up in a higher tax bracket by the time you're ready to retire. In this case, a Roth retirement plan would be a better choice because you pay taxes on your contributions now at your current tax rate, rather than paying taxes on your withdrawals later at a potentially higher tax rate. This can help maximize your retirement savings and minimize your tax burden in the long run.

If You Start Saving for Retirement Only in Your Later