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Benefits of a Roth IRA

By: Blake Will

When you are thinking about your retirement plan and how you are going to reach your goals, it is easy to overlook the Roth Individual Retirement Account (IRA).  Potentially, the $6,000 or $7,000 cap on contributions or the income limitations of making a direct contribution may make it seem to not be worthwhile.  We believe that the future planning power of a Roth IRA is more than worth the time it takes to make the contributions each year, even if multiple steps are involved.  

A few of the benefits of a Roth IRA:

  • Tax Free Growth which allows for more efficient tax planning in retirement
  • Contributions (or conversion basis) able to be withdrawn without tax or penalty (5 Year Rules may apply so please talk with us before making a decision)
  • No required distributions during your lifetime

If you are thinking of contributing directly to a Roth IRA or converting your traditional IRA, 401(K) or SEP into a Roth, please give us a call so we can discuss your overall plan and how a Roth IRA can fit into helping you achieve your goals. 

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