2 Big Reasons to Max Out Your Roth IRA in 2024 -- And 1 Reason Not To
If maxing out your Roth IRA is not one of your goals for 2024, you might want to consider it. A Roth IRA is highly praised because it's a tax-advantaged account that allows you to contribute after-tax dollars now, while you are in a lower tax bracket, in exchange for tax-free income during retirement. As long as you have earned income and your income doesn't exceed the threshold, you can stash away money in a Roth IRA.
The Roth IRA is loaded with benefits you can use both now and during retirement, but you need to contribute to the account to take advantage. If you're wondering whether to step up your retirement game this year and max out your Roth IRA, here are a couple of reasons why you should take the plunge and one reason to hold off.
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Source Fool.com
