3 Reasons It Pays to Have a Roth IRA

3 Reasons It Pays to Have a Roth IRA

Whether you're new to the world of retirement savings or have been contributing to a plan for years, if you're not putting money into a Roth, you could be making a huge mistake. Roth IRAs offer a world of benefits that other retirement plans simply can't match. Here are three in particular you should know about.

Maybe you're not happy with the extent to which your earnings currently get taxed, and feel you're paying the IRS too much. But be that as it may, there's something to be said about the evil you know versus the evil you can only anticipate. When you save for retirement with a Roth IRA, you pay taxes on the money you put in, but your withdrawals are taken tax-free down the line. Not only will you never have to pay taxes on that money if you go this route, but you won't have to worry whether tax rates in general will go up over time.

IMAGE SOURCE: GETTY IMAGES.

Continue reading

Source: Fool.com