While saving for retirement is an important way to grow your next egg, it’s also worth thinking about what happens when it’s time to take your money out. Some financial tools are better than others, and many are talking about the Roth IRA.
Per a recent story from AARP, the Roth IRA is an individual retirement account that comes with perks that traditional IRAs don’t offer. It is very tax friendly, and although you can’t take a tax deduction on Roth IRA contributions, the money you put away grows tax-free and is tax free when you take it out. However you do need to follow the withdrawal rules. A Roth IRA will give you a tax-free income stream in retirement, letting you keep more of what you earn.
To read the story in full from AARP, CLICK HERE.
