Is A Roth Ira A Tax Deferred Retirement Plan?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaA Roth IRA is a tax deferred retirement plan and can generate tax free income. It is not tax deductible, but most middle class Americans are in a low federal and state tax bracket, so Roth IRAs may be a great alternative to tax deductible retirement plans.Answered on July 14, 2013+01+1 this answer
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37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaMost Roth IRAs are deferred plans. There is a special IRS code for retirement plans that are funded with after-tax dollars. This is the description of a Roth IRA. The money that you put into the account has already been taxed so it is not taxed in the future. The interest on the money is not taxed either. When you withdraw funds from a Roth IRA, those funds will come to you income tax free if you meet certain conditions. It is not a short term plan. It requires patience but it is a well-guarded secret.Answered on May 21, 2014flag this answer
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