Tim is having trouble deciding between a traditional and Roth 401(K). He is currently earning $500,000 per year as a CFO and expects to be earning only $50,000 per year upon retiring at age 70. Would you recommend that Tim contribute to a traditional or Roth 401(K) or another type of investment vehicle? Why? If Tim is ineligible for his employer's 401(k) program, what other retirement savings options are available to him?