MOBILE, Ala. (WALA) – This morning, we’re discussing an important tool that can be helpful to many retirees: Roth IRAs.
Below is a list of questions and answers on ROTH IRA’s provided by Burns Estate Planning:
What is a Roth IRA for those who may have heard of them but never looked into it?
A Roth IRA is a type of Individual Retirement Account that allows for tax-free growth and withdrawals in retirement.
What are some benefits to this?
Money can grow tax-free and withdrawals are also tax-free ; no required RMDs; Use your contributions at any time (elaborate on this)
That’s good to know! Is this something that anyone can have?
Not everyone can contribute to a Roth IRA because of IRS income limits.
Can IRA’s be integrated into a person’s estate planning?
In many cases, a Roth IRA has legacy and estate planning benefits.
How does someone know if this is a good fit for them?
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