The Roth IRA has some incredible tax advantages like tax-free growth and tax-free income in retirement, but you might end up owing money if you don’t follow the rules and requirements in the Roth.
If you have a savings account, an online savings account, a CD, or a brokerage account, you’ll want to pay attention to what we are sharing. This video could help you keep more of that savings in your pocket rather than giving it to the IRS.
Without that steady income stream from work, people most commonly rely on their investments. Depending on where you’ve been saving, your money will likely come out of an IRA or a 401(k) and those withdraws will be subject to tax. Based on the amount of debt our country is facing right now, where do you think taxes are going in the future?