DISCOVER THE RETIREMENT BREAKTHROUGH ?THE ROTH IRA!
If you don't know what a Roth IRA is then stop everything, print this article and read it carefully as this will certainly be the most valuable information you read this year. This next retirement account is to your net worth what light bulb was to electricity. Let me tell you about this wonderful financial invention called a Roth IRA!The main difference between the Roth and traditional IRA is that with the Roth you pay taxes first and then make the contribution. This is absolutely fantastic if you make a lot of money in the stock market because you NEVER have to pay even a dime on the capital gains! There are a ton of other advantages to the Roth IRA. Unlike the traditional IRA you can be of any age and still contribute.
You can also make a contribution to a Roth IRA at any time for a particular calendar year up until the due date of your tax return for that year. This means that if you want to make a Roth IRA contribution for 2005, you could make it anytime between January 1, 2005 and April 15, 2006. Another nice feature of the Roth IRA is that your spouse will also qualify for a contribution. There is no tax deduction for Roth IRAs. Contributions are made with money that has already been taxed so there is no immediate tax break.
Don't fool yourself into thinking that this isn't the best thing since the wheel because when Roth money is taken out, it is a tax-free distribution! This type of IRA is ideal for individuals in a lower tax bracket now, but anticipate being in a higher tax bracket at retirement. In other words, if you are in a blue-collar or white-collar middle class family and are learning and practicing good savings and investment habits than this is your retirement life saver!It gets even better; you may make contributions at any age, even after you reach 70?. You must have your Roth account open for at least five years before you can take a penalty free distribution of earnings. Distributions of earnings without penalty can be taken after age 59?. If you are a first-time home buyer or become disabled, you can take distributions earlier.
You can also withdraw the contributions at any time penalty free as long as you don't withdraw investment earnings. What many people don't know who even have Roth is that they can withdraw the contribution for the account without penalty at any time as long as you don't touch any stock profits. If you exceed the income limits you can neither contribute to nor roll over other IRA money into a Roth account. If you opened a Roth while you were under the income limits but then later earn more, your Roth account still will earn money tax-free that you can take out later without tax implications, but no new contributions are allowed. Another absolutely incredible feature of the Roth IRA is that it is also judgment proof.
If you get sued it can be very hard for the lawyers to get it from you!.
ABOUT THE AUTHOR: Dr. Scott Brown, Ph.D., the Wallet Doctor, is a successful investor. Dr. Brown holds a Ph.D. in finance. The Wallet Doctor is sought after for investment advice and coaching. For more information visit Dr. Brown?s site at www.BonanzaBase.com or sign up for his investment tips at www.WalletDoctor.comHow to Stretch Your IRA Tax-FREE
(ContentDesk) May 24, 2004 -- Income taxes are a great inhibitor to building wealth. I've talked about the power of stretching an IRA across multiple generations and how it can build tremendous wealth. Now, I'll show you how it can be done income tax-free.Last week I shared a little-known secret of how to legally turn an investment of $3500 per year into millions and millions of dollars. No, it wasn't by winning the lottery! It was through the power of ?stretching' an IRA. If you missed it you have to read it under the article archive at www.guardingyourwealth.com.
(Mr. Voudrie responds to questions from readers on an almost daily basis.
If you would like clear straightforward unbiased answers to your financial questions, contact e-mail protected from spam bots)Most people think that when they inherit an IRA that they have to take all the money out and pay taxes on it right away. But the IRS...
Ira > How to Stretch Your IRA Tax-FREE
'How To' for Checkbook Control Self Directed IRA
Las Vegas, NV (ContentDesk) August 8, 2006 -- American Equity Corporation (http://www.americanequity.org) announced that its subsidiary SelfDirectedIRA.org has implemented a new free consumer website and it is now live online. SelfDirectedIRA.org provides consumers with a source for news, instruction, strategies and tips for implementing a
truly self directed IRA with checkbook control.Due to fact that we are a society concerned with providing adequately for retirement,
there has developed a need for a single source for the consumer to obtain the information necessary to fund their retirement programs in the most effective manner. While there are many sources that provide limited information to the consumer there is no single unbiased source.SelfDirectedIRA.org will fulfill the need for a single source. It will enable consumers to find everything they need related to self directed ira issues at a single site. SelfDirectedIRA.org provides free information for establishing...
Ira > 'How To' for Checkbook Control Self Directed IRA
CBS Broadcaster Ira Joe Fisher Publishes New Poetry Book, 'Some Holy Weight in the Village Air'
Garden City, NY (ContentDesk) May 11, 2006 -- Ira Joe Fishers new collection of poetry, "Some Holy Weight in the Village Air," published by Athanata Arts, Ltd. will be officially released on July 20, 2006. Fisher, a nationally recognized broadcaster with over forty years experience, known for his work as weather anchor for CBS on The Saturday Early Show, is an accomplished poet who gives voice and depth to small-town American experience in the tradition of Robert Frost. Fishers book is the first volume of five to be published by Athanata Arts NYQ Poetry Series, established to present book-length collections of poets recognized by publication in the The New York Quarterly poetry journal founded by William Packard in 1969.Praised by Thomas Lux as a "splendid first collection," "Some Holy Weight in the Village Air" "chronicles small-town life, its scandals and secret tragedies and small undoings" (Paula McLain)in language which "often dazzles and is always compassionate, immediate, powerful,...
CBS Broadcaster Ira Joe Fisher Publishes New Poetry Book, 'Some Holy Weight in the Village Air'
Ira > CBS Broadcaster Ira Joe Fisher Publishes New Poetry Book, 'Some Holy Weight in the Village Air'
How to Stretch Your IRA Tax-FREE
(ContentDesk) May 24, 2004 -- Income taxes are a great inhibitor to building wealth. I've talked about the power of stretching an IRA across multiple generations and how it can build tremendous wealth. Now, I'll show you how it can be done income tax-free.Last week I shared a little-known secret of how to legally turn an investment of $3500 per year into millions and millions of dollars. No, it wasn't by winning the lottery! It was through the power of ?stretching' an IRA. If you missed it you have to read it under the article archive at www.guardingyourwealth.com.
(Mr. Voudrie responds to questions from readers on an almost daily basis.
If you would like clear straightforward unbiased answers to your financial questions, contact e-mail protected from spam bots)Most people think that when they inherit an IRA that they have to take all the money out and pay taxes on it right away. But the IRS...
Ira > How to Stretch Your IRA Tax-FREE
Which IRA Is Best For You?
An Ira is one of the greatest ways to save on taxes currently and accumulate money for the future.For individuals three types of IRA's will normally come under consideration.The Traditional or Regular IRAThe Education IRAThe Roth IRAEducation IRA is now called the Coverdell Education Savings Account (ESA).Education IRAs allow you to save for qualified higher educational expenses for a beneficiary. Parents and guardians are allowed to make nondeductible contributions to an education IRA for a child under the age of 18.Contributions are allowed prior to the beneficiary turning 18, and contributions may not exceed $2,000 per beneficiary per year.Contributions are made with after-tax dollars. There is NO deduction for the contribution. Withdrawals, however, are tax- and penalty-free when adhering to certain rules.The traditional IRA allows you to contribute an amount and take a current deduction for the contribution. Withdrawal minimums must begin at a certain age and all withdrawals are...
Which IRA Is Best For You?
Ira > Which IRA Is Best For You?