You’ve heard of these. They sound great, right? Put “after-tax” money in now, and later, after it has grown…… to what will surely be a huge fortune….. you pay NO TAX on the distributions. Woohoo! What could be better?
Well….a few things to remember…..
- You can’t put money in a ROTH IRA if you file Married Filing Separately
- If you qualify to put money in a DEDUCTIBLE Traditional IRA and you will be in a higher tax bracket NOW than you anticipate being in after retirement then MAYBE the Roth isn’t the answer.
LET’S TALK ABOUT YOUR OPTIONS!!!!!!!
WE ARE ALWAYS HERE, YEAR ROUND, READY TO LISTEN AND GIVE YOU ADVICE.
Be sure to tell us if you put money in your Roth IRA.
More on Roth IRAs