Should You Fund a Roth IRA in 2023?
Roth IRAs are often hailed as the best retirement savings tool in existence. And it's easy to see why.
With a Roth IRA, you get to enjoy tax-free investment gains in your account as well as tax-free withdrawals during retirement. And at a time in life when money may be tighter than you'd like it to be, not having to lose some of your income to the IRS is a very good thing.
Plus, Roth IRAs are the only tax-advantaged retirement savings plan to not impose required minimum distributions. That means you can leave your money where it is and enjoy added years of tax-free gains. Plus, if you're in a strong enough financial position to be able to leave a large chunk of your nest egg to your heirs, a Roth IRA should allow for that -- whereas you may not be able to do so with any other tax-advantaged retirement plan.
Source Fool.com
