Roth ira
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Roth IRA. Attilio Leonardi P1. Definition. A n individual retirement account allowing a person to set aside after-tax income up to a specified amount each year. Both earnings on the account and withdrawals after age 59½ are tax-free. Limits.

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Roth IRA

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Roth ira

Roth IRA

Attilio Leonardi

P1


Definition

Definition

  • An individual retirement account allowing a person to set aside after-tax income up to a specified amount each year. Both earnings on the account and withdrawals after age 59½ are tax-free.


Limits

Limits

  • You can not take out the money tax free until you are age 59.5 year old.


Typical investor

TYPICAL investor

  • The typical investor would be a conservative investor.

  • It is a long term investment


How do you make money

How do you make Money?

  • You make the money on interest.

  • The equation is

  • R= Interest rate divided by compounds per year


Economic climate

Economic climate

  • This is good as long as the investor can put in a specific amount of money every month.

  • So as long as the economic climate is stable the Roth IRA will be fine.


2 places to get roth iras

2 Places to get ROTH IRAs

  • You can get it form a brokerage firm like Schwab or TD Ameritrade

    Or

  • A mutual fund like Fidelity or Vanguard


Money needed to get started

Money needed to get started

  • Earned income must be equal to or greater than your annual contributions.

  • Maximum Income: For tax year 2013: May not be eligible if your income is over $127,000 for single filers and $188,000 for joint filers.


Risks

Risks

  • Long-term investment

  • Penalties if withdrawn before age 59.5

  • Exceptions…

    • Death

    • Disability

    • First time house buying up to $10,000


Simple interest vs roth ira

Simple Interest vs. ROTH IRA


Works cited

Works Cited

http://individual.troweprice.com/public/Retail/Retirement/IRA/Roth-IRA

https://www.fidelity.com/retirement-ira/ira/roth-ira

http://www.rothira.com/account-options


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