I just found out that the company I work for offers 401K Roth. I am thinking of switching to 401K Roth soon. Right now I only have traditional retirement fund and no Roth. I think I have been contributing enough for my retirement but it is not diversified enough, eg traditional vs roth.
So far I have been contributing to Traditional 401K up to the yearly max amount of $18.5K.
I am aware of the tax consequences and I understand how each 401K affects taxes now and during withdrawal. I am interested in knowing other factors I am not aware of, for example mandatory withdrawal at about 70 years (for traditional 401K). Is this true for Roth 401K as well.
Is there anything else that I need to consider in making this decision?
