"Maximizing Retirement Savings: The Benefits of Roth IRAs"
TL;DR
Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, recommends Roth IRA for young adults who want to invest but can't envision retirement. Contributions to Roth IRA are made after-tax, allowing investors to access the money they contributed without penalty, no matter their age. Roth IRA also serves as an emergency fund. Contributions up to $6,500 can be made this year, and there are income caps for making the full contribution. Roth IRAs do not come with required minimum distributions and allow tax-free withdrawals.
Topics:businesspersonal-finance#contributions#emergency-fund#personal-finance#retirement#roth-ira#tax-free
- A Roth IRA can be smart for young adults who 'can't envision' retirement, advisor says. Here's why CNBC
- The 10 best Roth IRAs for March 2023 Yahoo Finance
- 4 Reasons to Avoid a Traditional IRA for Your Retirement Savings The Motley Fool
- Using Retirement Accounts The White Coat Investor
- Switch to Roth Contributions If You Have This Much Money Yahoo Finance
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on CNBC