Roth IRA: Is It the Right Retirement Plan for You?

by | May 10, 2017 | Retirement Planning

When planning for your future, it can be difficult to know which retirement plan is the right one to choose. The primary goal is to help save money that will available when a person retires from working. When investing in a retirement plan, you want to find one that will meet your financial demands to ensure you can live comfortably. People have the option of saving their money through traditional IRA that will require them to pay taxes on the account once they retire. However, people are now able to pay taxes on their retirement fund by setting up an account with Roth IRA companies.

Benefits of Roth IRA

When you have an account with one of the Roth IRA companies, you do not have to worry about paying taxes once you withdraw the money. This allows the money to grow over the years without having to pay taxes as you continue to save. Another advantage of a Roth IRA over a traditional one, people can still contribute to their account after they have retired. With the ability to add money to your retirement fund, you increase the chance of leaving enough money behind for your family after you have passed.  Unlike traditional IRA accounts, you are no longer able to place money into your retirement fund once you have retired.

Income Limits

To qualify for a Roth IRA, there are certain requirements that you must meet and a limit on how much income you can make. We provide you with information on the requirements of placing your money in a Roth account. We can assist you in making a well-informed decision on the right retirement plan for you. Along with providing options that will help you improve how much money you will have upon retirement.

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