Learning The Roth IRA Basics
Before you set up a Roth IRA or use one to invest for retirement, you need a firm grasp of the fundamentals.
For instance, it stands to reason you should know what a Roth IRA is. Right?
But in addition to that basic question, you need to know as much as possible about the attributes which differentiate a Roth IRA from other commonly used retirement accounts.
Knowing the key differences can result in a much bigger retirement nest egg.
For instance, did you know you can withdraw funds from your Roth IRA early to pay for qualified education expenses such as college tuition and NOT owe an early withdrawal penalty?
And did you know that this provision isn't extended to you exclusively? It can also be used to fund the college education of your children and grandchildren...
Knowing these little tidbits of information can mean the difference between financial struggle and financial freedom.
So take the time to read through each of the links below...
Even if you're already familiar with the information, it never hurts to brush up on your Roth IRA knowledge!
What are the rules governing a Roth IRA?
What are the benefits of a Roth IRA?
Who can participate in a Roth IRA?
What can you hold in a Roth IRA?
What are the contribution limits for a Roth IRA?
What are the income limits for a Roth IRA?
What are the withdrawal rules for a Roth IRA?
What are the tax consequences of a Roth IRA?
Once you've taken the time to familiarize yourself with the fundamentals of a Roth IRA, then you can take the time to determine which Roth IRA investment strategy is best for you.
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The information contained in Your Roth IRA is for general information purposes only and does not constitute professional financial advice. Please contact an independent financial professional when seeking advice regarding your specific financial situation.
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