Are you tired of taxes? Tired of hearing about them? Tired of giving your hard-earned dollars to Uncle Sam? Tired of politicians who say they will lower your taxes – then do the opposite?
How would you like a stream of income later in life that you WON’T pay taxes on at all?
That’s what the Roth IRA is all about!
The Roth IRA was created as a future Tax Reduction Account in 1997. It’s a great way to save for your future retirement. The name “Roth” is in honor of the bill’s main creator – late Sen. William Roth of Delaware. The beauty of the Roth is that there are NO TAXES on either the growth, or withdrawals you take after age 59 1/2. So your income will be TAX FREE!
You can contribute to a Roth IRA for either 2009 or 2010 right now – up to $5000/year. If you are 50 or older, you can put in an extra $1000.
Here are 2 new things in 2010 about the Roth IRA you should know.
* There are no income restrictions for making Roth IRA contributions this year. This allows more people than ever before to use a Roth.
* You can convert your traditional pre-tax IRA to a Roth by simply paying taxes on the amount you convert. That isn’t new, but what IS new
is that you can SPLIT the tax burden over 2 Years – 2011 & 2012.
If you really want less taxes later, set up your Roth IRA (Tax Reduction Account) today. You have until April 15 to contribute for 2009.
You can contact me in South Bend, IN through my website at www.helpmy401k.us. You can also follow my on Twitter at www.twitter.com/deanvoelker. I also host a weekly internet radio program, “Improving Your Financial Health” on Blog Talk Radio www.blogtalkradio.com/401kcoach.