The Roth IRA was designed to provide tax benefits, but it’s often viewed as primarily an investment tool for younger investors. This is because there are income limits to contributions, and it’s generally assumed that income – and hence taxes – will be lower during the earlier stages of a career. However, for investors close to and in retirement, it can also be an effective tool, if it’s accessed by converting other assets and care is taken in how the conversion is paid for.
The Roth IRA allows investments to grow tax-free, distributions are not taxed, and there are no required minimum distributions.1 Combined, these benefits can be part of a successful retirement plan, one that ensures you can invest for the growth your long-term plans need, while still managing your income in a way that creates tax efficiency.
Traditional IRAs and 401(k) plans require minimum... ...
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