When To Do A Roth IRA?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA Roth IRA can be started at almost any age. My nephew is in his mid-20s and he has a Roth IRA. The point of this type of planning is to save money now. Retirement will come soon enough. A Roth IRA will provide you with a tax free stream of income. Even the gain earned by the Roth comes to you at retirement free of income tax.Answered on July 1, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is an excellent question! I am pleased to hear of your interest, as a Roth IRA is a terrific way to save for retirement. I cannot advise you strongly enough to start saving for retirement as soon as possible. Yesterday is not soon enough. Conventional wisdom says to retire at your current standard of living, you will need to save 8-10 times your current salary. Please start one soon, and if possible, contribute as much of the annual $5500 that you can ($6500 if you're 50+). I hope that helps - thanks for asking!Answered on July 2, 2014flag this answer
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