Roth IRA

An individual retirement account that offers possible tax FREE earnings as long as the five-year waiting period is satisfied and qualifying distribution rules are met.

For example:

  • If you put $500 of after tax money into a Roth IRA, the $500 – and additional money you deposit each year – will grow tax-free through interest in the Roth IRA.
  • When you begin to withdraw money from your IRA, let’s say $1,000, you will pay no taxes on that amount as long as certain qualifications are met. 

Contributions:

  • Unlike Traditional IRAs, Roth IRA contributions are made after taxes.
  • Roth IRAs are also different from Traditional IRAs, in that, there is no maximum age to open or contribute to a Roth IRA and contributions may continue after the age of 70 1/2 as long as you have earned income. 
  • Your modified adjusted gross income must be below a certain level in order to make a deposits into a Roth IRA.

Distributions:

  • Unlike a Traditional IRA, you are not required to take mandatory distributions at any time during your lifetime.
  • The money you withdraw will not be taxed, if certain qualifications are met. 
eStatements - An eco friendly alternative to paper statements.