Why consider a Roth IRA?
You should plan on personal retirement savings to supplement Social Security and pension benefits because those two benefits combined may not provide the level of income that you will need in retirement. This is especially true as life expectancies increase and individuals experience more frequent job changes (with fewer employer pensions). In addition, there are major advantages to establishing a Roth IRA.
Features & Benefits
Roth IRAs are tax-advantaged retirement accounts which means that all contributions are made with after-tax dollars and grow tax-deferred. Plus, unlike a Traditional IRA, if you are over age 59½ and your account has been open for 5 years, your distributions will be tax-free. Also unlike a Traditional IRA, you can continue making contributions after you reach age 70½ and do not have to take required minimum distributions on or after age 70½. Certain income limitations apply.
Your Advisor can help you decide if a Roth IRA is right for you.
To learn more, read our product brochure about the Roth IRA