#541: Ever wondered if you're making the right choice between a Traditional and Roth 401(k)? You're not alone.  In this episode, Katie Gatti Tassin, host of MorningBrew’s Money with Katie podcast, joins us to tackle this common retirement savings dilemma. We deep-dive into the debate between using Traditional vs. Roth 401(k) accounts for retirement savings, in the context of: Future tax rates  Tax complexities for small business owners and high earners Social Security uncertainty Stock-based compensation  Incentives for business owners vs. employees Katie explains her strategy for maximizing retirement savings while minimizing taxes. She suggests that for some people in higher tax brackets, maxing out a traditional 401(k) and then investing the tax savings elsewhere might be the way to go.  But as we dig deeper, it becomes clear that there's no one-size-fits-all answer. We explore the Traditional vs Roth question, discussing how your current income and expected retirement spending can affect your choices.  It's not just about the math, though. The unpredictability of future tax rates and policies adds another layer of complexity to the decision. Social Security plays a major role, as well. We discuss its current funding situation and the challenges it might face in the future.  This leads to a fascinating discussion about how AI might impact future costs and lifestyles. Could things actually get cheaper in the future?  Taxes for high earners and small business owners is another focus. We break down some misconceptions about who falls into high tax brackets. It's not always as simple as it seems. Stock-based compensation is another hot topic. We discuss how it affects corporate decision-making and the wider economy. This leads to an interesting comparison of the incentives for business owners versus employees. Throughout the episode, we keep coming back to one key point: no matter which type of account you choose, the most important thing is to contribute as much as you can.  Your contribution amount has a bigger impact on your retirement savings than the type of account you use. By the end of this interview, you'll have a better understanding of the factors that go into choosing between a Traditional and Roth 401(k). More importantly, you'll see how this decision fits into the bigger picture of retirement planning and overall financial health. Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. Here are the condensed timestamps and descriptions: 0:00 Introduction 1:46 Katie explains strategy for maximizing retirement savings 3:19 Discuss assumptions behind traditional vs Roth 401(k) decisions 5:54 Compare scenarios of traditional and Roth contributions 8:54 Explore how income affects retirement account choice 13:51 Talk about media's impact on financial perceptions 15:20 Discuss unpredictability of future tax policies 18:03 Explain current state of Social Security funding 21:05 Explore AI's potential impact on future costs 24:41 Discuss how location influences spending habits 28:16 Examine tax implications for high earners 31:12 Talk about effects of stock-based compensation 33:55 Compare incentives for business owners vs employees 36:06 Emphasize importance of contribution amounts For more information, visit the show notes at https://affordanything.com/episode541 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#540: What can M&Ms, McDonalds, Harry Potter, Aquafina, Taylor Swift, Jeopardy, and Bed Bath & Beyond teach us about landing a dream job or securing a promotion? Plenty. Imagine you're at a job interview. You've rehearsed your answers, polished your resume, and you're feeling confident. But what if the key to landing that job isn't just about your skills and experience? What if it's about how you make people feel? How you make people feel is your brand, Zane says.  That's what Leslie Zane, a Harvard Business School alum and prominent branding expert, talks about in this interview. She says that whether you're trying to get a new job, a promotion, or more customers for your small business, it all comes down to how you build your personal brand. Zane breaks it down into three main ideas: be salient, be relevant, and be distinctive. Being salient means making sure people remember you. It's not just about doing your job well, but about connecting with people all over your company. Zane gives an example of a dental hygienist who calls patients after their appointments to check on them and offer advice. This extra touch helps the hygienist stick in people's minds. Being relevant is about focusing on the good stuff. Zane says if you make a mistake at work, don't dwell on it. Instead, do more good things to push out the bad memory. She talks about how McDonald's dealt with rumors about "pink slime" in their food. Instead of denying it over and over, they started showing how they make their food with fresh ingredients. This helped people forget about the pink slime and think about good things instead. Being distinctive means standing out, but in a way that still feels familiar. Zane tells a story about the game show Jeopardy. When the longtime host Alex Trebek died, the producers tried inviting different celebrities to host the show. But viewers didn't like it. The ratings only rose when they chose Ken Jennings, a former champion contestant, as the new host. He was familiar enough that viewers felt comfortable with him. Zane also talks about how these ideas can help small businesses. She says it's important to reach out to new customers, not just focus on the ones you already have. She suggests finding ways to connect your business to things that people already enjoy. If you run an accounting firm in Kansas City, for example, you might talk about local sports teams or famous barbecue to help people feel a connection to your business. Throughout the interview, Zane emphasizes that building a strong personal brand isn't about bragging or being fake. It's about creating genuine connections with people and consistently showing your best qualities. You’re creating buzz about yourself. The more positive connections you make, the stronger your brand becomes. Zane's advice goes against some common ideas about marketing and self-promotion. She says you don't need to stick to just one thing or only target a specific group of people. Instead, she encourages reaching out to as many people as possible and finding ways to connect your skills or business to things they already care about. Timestamps Note: Timestamps will vary on individual listening devices based on dynamic ad lengths 0:00 - Importance of becoming a personal brand for career growth 6:04 - Tapping into the instinctive mind 8:54 - How brands grow in people's minds 13:40 - Situational salience using M&M's example 18:40 - Why Harry Potter is a salient brand 24:23 - Three key elements of building a personal brand 29:20 - McDonald's addressing negative brand associations 35:40 - Be distinctive, not unique 41:00 - Jeopardy! host change and brand continuity 46:56 - Creating buzz about yourself at work 52:40 - Why core customers can be a business trap 57:20 - Handling negative feedback or associations 1:02:40 - Tips for standing out in job interviews For more information, visit the show notes at https://affordanything.com/episode540 Learn more about your ad choices. Visit podcastchoices.com/adchoices