Renwanz Insurance & Financial Solutions, Carlsbad, CA
The Roth IRA is a retirement savings vehicle. Choosing a Roth IRA over a traditional IRA gives you several clear advantages:
1) Your Roth IRA grows tax free.
2) During your retirement years you draw tax free income from your Roth IRA account.
3) Because you've already paid taxes on your Roth IRA, it hedges against the possibility of having a tax rate increase, thus causing more taxes to be taken out of your Roth IRA income stream during retirement. Remember, you will most likely have less write-offs when you retire. In retirement, you will have no dependents and could have your mortgage paid off.
4) No required minimum distributions (RMDs) when you reach 70 1/2.
In retirement, you'll thank yourself for having the foresight of a tax free income stream while your neighbors face the likelihood of an increased tax bite from their save traditional IRA.
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1) Your Roth IRA grows tax free.
2) During your retirement years you draw tax free income from your Roth IRA account.
3) Because you've already paid taxes on your Roth IRA, it hedges against the possibility of having a tax rate increase, thus causing more taxes to be taken out of your Roth IRA income stream during retirement. Remember, you will most likely have less write-offs when you retire. In retirement, you will have no dependents and could have your mortgage paid off.
4) No required minimum distributions (RMDs) when you reach 70 1/2.
In retirement, you'll thank yourself for having the foresight of a tax free income stream while your neighbors face the likelihood of an increased tax bite from their save traditional IRA.