Roth IRA
I’m 62 and I am wondering if I should start a Roth IRA. I plan to retire @ 67 – so 5-6 years away, is this a good option for me?
Terry Says
If you have earned income, you can put up to $8,000 a year into a Roth IRA. YOu don’t get a tax deduction for your contribution, but all the money grows tax free. AND, you are never required to take a Required Minimum Distribution. You must hold on to the money in the account for at least 5 years to get the tax free withdrawal of all gains.
Sounds like a great idea to me!
