Many people prefer the Roth IRA to other retirement savings plans. The income grows tax free, and distributions in retirement from a Roth IRA are tax free, as well. Distributions from the plan are not included in your income, which can greatly reduce your income tax liability … Read More
Roth IRA conversions allow you to move some or all of the funds from your traditional IRA account into a Roth account. If you’re going to convert, you must do so by December 31st of the tax-reporting year. And, as you know, that deadline is coming up … Read More
Roth IRAs offer several unique benefits that traditional IRAs do not. Contributions are made after tax, can be made after you reach 70 1/2 years of age, and distributions are not required by that age, either. Additionally, all earnings grow tax-free—and can be withdrawn at the age … Read More
Retirement planning isn’t easy these days, especially if you’re getting started late in the game. First, you have to find the best retirement plan that fits your needs. And, the amount of money you need to retire depends on many things including but not limited to the … Read More
One of the main attractions of having a Roth IRA is that once you reach the age of 59 1/2 and have had a Roth account opened for five years, you qualify for tax-free distributions. This is commonly referred to as the Roth IRA five-year rule. There … Read More
Roth IRAs are one of the most beneficial retirement plans available. If you don't have an employer-sponsored plan, you can open an individual Roth account to save money for your future. But, there are rules for Roth IRAs about eligibility, contributions, and funding you must understand first. … Read More
