Roth IRA for Tax-free retirement income
Would you like to be able to make tax-free withdrawals from your account in retirement? A Roth IRA may be for you!
A Roth IRA is an Individual Retirement Account that is funded with earned income that has already been taxed. The advantage of this account, as compared to a Traditional IRA, is that withdrawals are free of federal income tax (to include tax-free growth). Current limits for Roth IRA contributions are $6000/year for ages 49 and below, and $7000/year for those ages 50 and above.
Pre-tax vs. post-tax… it can sometimes make your head spin! Let us help you understand the difference and select the best approach for you.