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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

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  • Penalties if withdrawn before age 59.5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
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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