Darcy Bergen

Deciding whether to open a Roth IRA or traditional IRA can be confusing. Both have their benefits, but ultimately it depends on your unique financial situation. In this blog post, we'll focus on the benefits of a Roth IRA.  Roth IRAs were established in 1997 and named after Senator William Roth. They are similar to traditional IRAs in that they offer tax-deferred growth and allow you to withdraw your money penalty-free at retirement age. However, there are some key differences. With a Roth IRA, you contribute money that has already been taxed. This means that when you withdraw the money at retirement, you won't have to pay any taxes on it.  There are a few other key benefits of a Roth IRA. First, there is no required minimum distribution (RMD). This means that you are not required to take distributions from your account starting at age 70 1/2 like you are with a traditional IRA. This can be beneficial if you want to let your money grow for as long as possible.  Another key ben

 An IRA account is a tax-advantaged way to save for retirement. You can invest in various ways, but the tax benefits begin with contributions. To open an IRA account , you can choose a low-cost brokerage. You can also choose to have your account managed by a Robo-advisor. Low fees, minimum balances, and automated portfolio balancing are typical features of these programs. Many of them also let you operate your account online. Although an IRA is a popular retirement vehicle, it must be cautiously approached. To begin, you must grasp the tax advantages and select the suitable type of IRA. Traditional and Roth IRA accounts are the two basic types of IRA accounts. A Roth IRA is intended solely for retirement savings. It allows you to save tax dollars while investing in a Roth IRA. An IRA can also be used to complement a company-sponsored retirement plan. The tax advantages of an IRA account are determined by the type of account you open and the amount of earned income you have during the c