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The Roth IRA is a new type of Individual Retirement Account. It is a simple way to prepare for your retirement. Like a Traditional IRA the government allows an individual to put a maximum of $2000 per year into a Roth. A married couple may contribute up to $4000 per year. The money deposited must be earned income. If you choose to withdraw money before age 59 1/2, there is a penalty. There are exceptions, such as money needed for education or disability. Unlike the Traditional Ira there are no mandatory withdrawals. You may start a Roth and continue to contribute to it at any age.
The differences between a traditional IRA and the Roth are exciting! Instead of a tax deduction of the deposits, the retirement income is completely tax free! That means that any interest earned is not taxed. Think of how much that could amount to over the years. Plus the money that would have gone for taxes is in the account growing. It can be in Indexed Annuities, Fixed Annuities, etc. It can also be passed on to your heirs tax free.
To take advantage of this tax break, call Nancy at 928-777-8736, or Ron at 928-717-8256 or E-mail us at investments@weareinsurance.com.
Use the Information Request Form for fast service.
