M
Manuel M.
By saving your money in a Roth IRA through Mutual Funds at Fidelity Investments you are able to save on taxes and save for retirement.
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By saving your money in a Roth IRA through Mutual Funds at Fidelity Investments you are able to save on taxes and save for retirement.
A Roth IRA is a great retirement plan for those who meet the requirements. While it does not offer the more generous contribution limits of its cousins (401k, 403b, or 457b), it is a great option for a retirement plan for those who are self employed or not offered an employer sponsored plan. IRAs usually offer more investment choices than employer sponsored plans.
I think some people are skeptical about using "retirement accounts" like Roth IRAs. What happens if you invest in a Roth IRA instead of a savings account? Can you still pull your money out?
Yes! Roth IRAs give you flexibility and typically better long-term returns than a savings accouns or C.D.
Agreed.
Just another of the many cases where people exhibit skepticism and fear about things they simply don't understand. We need to work together to reduce the ignorance so that people understand that when they need the returns of riskier investments, leaving money to languish in savings accounts or CDs is the far scarier alternative.
Can anyone shed light of Traditional vs Roth IRA?
My friend recently shared a strategy she learned from her financial advisor with me about a way to grow your retirement next egg more efficiently; it had something to do with IRAs, rolling over amounts from your 401K, and pre- vs after-tax contributions….it made sense at the time of the conversation but now that I think of it it's hard to wrap my head around….anyone know about this and can share their expertise?
I have ira and roth ira
list
Roth IRAs also offer great tax savings in retirement. Because Roth IRA withdrawals of both contributions and investment gains are income tax free when taken in retirement, they do not increase a retiree's tax liability, tax rate, Medicare premiums, or Social Security taxes.
I'm retired and am working on converting my traditionals to Roths as I anticipate higher taxes in the future
Can anyone shed light of Traditional vs Roth IRA?
Traditional: Paid with pre-tax money (requires the permission of your employer), taxes paid upon withdrawal
Roth: Paid with post-tax money, no fees upon withdrawal
I agree. I was glad my job added this year as an option a Roth.
I use a Roth IRA.
I am considering setting up a Roth IRA. Still learning about this and investments.
coverted an ira to roth today
coverted an ira to roth today
I think that conversion triggers a tax bite for all the tax that you didn't pay when contributing to the Traditional IRA. Is that right?
I would like to have a Roth IRA. I have to save for it.
I am going to take my 18 year old daughter to start a Roth IRA
I am going to take my 18 year old daughter to start a Roth IRA
That great! When my daughters turn 14 (or maybe it's 16; I forget how early they can start), they're going to get one too.
Today is a GOOD Day.
How much is needed for retirement
I have a Roth IRA. I've never had a retirement account through employer. I had very low income at the time i opened the Roth. With Roth it's possible to pull from it after 5 years with no penalty. I wouldn't open an additional IRA because the 6k contribution limit is across all IRAs. Next I want to open a state sponsored 529 educational savings account instead. For now this is enough for my income and capacity because I'm not even making max contribution yet.
Link to infographic: https://www.schwab.com/ira/understand-iras/roth-vs-trad-ira
yes
Fidelity is one financial institution that offers Roth IRA's, but there are many more options.