Tax considerations are essential to good retirement planning. With a Roth IRA, you make contributions with money that has already been taxed so you’ll owe no additional taxes when you withdraw the funds under current laws.
- Make contributions with taxed money
- Your account grows tax-free
- Contributions can continue past age 70 ½ if you’re still earning income
- Annual contribution limits may apply
- Available to individuals and joint filers with an adjusted gross income (AGI) that meets the tax law requirement