There Is Still Time To Fund Your Financial Future

 There Is Still Time To Fund Your Financial Future

 

 Hello Rookies!


Although we say goodbye to 2018 there is still time to contribute to a Roth IRA.  For those not familiar with the Roth IRA click here.  The IRS allows you to contribute toward your year 2018 ROTH IRA contribution up until taxes are due - that is until April 15 2019.  So if you have not already contributed to your ROTH IRA there is still plenty of time to plan and consider.  

Why Contribute

Although you may not be looking so much into your late future now - your 60 something year old self will greatly thank you.  A ROTH IRA may be the the only way to avoid taxes on money that you make in the stock market.  Not even a 401k can tout that.  If you were to contribute $1000 a year into a ROTH IRA for 30 years you will have placed $30,000 of your own hard earned cash into the account.  Now imagine it grows with capital gains and dividends to $98,000 (that is based on a average return of 7%).  
That extra $68,000 in gains is yours tax free.  


If your still not convinced...

Any contributions that you make can be withdrawn at any time (as long as you do not take out any gains early).  For example : If you placed $5000 into a ROTH IRA and it grew into $7000 you could still take out your initial $5000 if needed penalty free. 






Pay less taxes - take the time to review your current retirement savings and taxable advantages for the future



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