Join the Roth IRA Fanclub

Posted by Andy
I realize that most families are just trying to get by in this economy, but when you are choosing a retirement vehicle to invest in I would encourage you to look to the Roth IRA. Take advantage of whatever match your company will offer through their 401K or other plan, but then try to max out your Roth IRA. I know this plan isn't perfect for everyone, but it will be perfect for the majority.

Why do I love the Roth so much... flexibility and tax free withdrawals. You can virtually use your Roth as a savings account, taking the contributions back out if you ever need them without facing penalties and taxes (there is a five year rule before withdrawing contributions). Try that on any other retirement account. Actually, don't try it, just trust me that you don't want to do it.

Want more reasons to love the Roth?
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The content on this blog (www.acollinscpa.blogspot.com) is my personal opinion based on my study and understanding of tax laws, policies and regulations. It’s provided for your private, noncommercial, educational and informational purposes only. It’s not a recommendation or endorsement of any company or product. It should not be relied upon as specific tax advice for your personal situation. I strongly suggest that when it comes to filing your taxes, you get additional, professional guidance from individuals who are familiar with your specific circumstances. Those who choose to rely solely upon the information on this site do so at their own risk and peril, and cannot hold the author liable in any form or fashion.

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