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.