The Roth IRA: the Key to Generational Wealth

You! yea—you! That’s right, I’m looking at you. You got a Roth IRA? No? Why not? Don’t you like tax-deferred, compounded growth on your money?

Well, I bet you do. So what are ya waiting for then buddy. Listen, the Roth IRA is one of the best investment vehicles to make money out there. So what makes the Roth so special?

• You can pull out your initial contribution without penalty at anytime, so if you need cash in a pinch, you can withdraw it.

• You get to invest post-tax dollars (i.e that net paycheck you get is post-tax after the gross amount is subtracted for expenses such as federal and state income taxes) and don’t pay taxes on the growth of that money (as long as you wait till 59.5 years of age or 5 years on that gain). So, once you invest $1,000, and it grows, you won’t have to pay taxes on that money.

• In retirement, you won’t even need to pull anything from it. So it can be money you ultimately pass down to your kids.

• As compared to a traditional IRA, the Roth IRA’s withdrawals after 59.5 years of age are generally penalty/tax-free.

So what are ya waiting for?? You can put in a maximum/contribute $6,500 as a single person next year, or if married both of you can put that much in your own accounts, respectively.

So hurry up, get on it!!

Go on the major brokerage sites, Robinhood, Fidelity, Etrade, Charles Schwab, or TD Ameritrade and open up a Roth IRA account right now! 

Contributor: Founder, Financeowlogy