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Consider two co-workers: Dennis and George. Dennis is a young college-student who works approximately 30 hours a week to help pay for his college expenses.
Consider two co-workers: Dennis and George. Dennis is a young college-student who works approximately 30 hours a week to help pay for his college expenses. Last year, Dennis earned approximately $24,960 in wage/salary income.George is a 58-year-old banker who earns approximately $115,000 per year.For tax purposes, who would be a better fit for a Roth IRA instead of a traditional IRA? Dennis or George? Explain your reasoning. (10 points)
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