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5 Benefits to Having a Roth IRA That Will Make You Save Big


  • Matt Sherman
    Posted November 24, 2014 at 12:22 pm

    Roth IRA’s seem like a great idea, but with the propensity of the federal government to change policy on a dime how likely do you think it is that they come in later and tax them anyway? Especially considering the fact that more and more people will be coming into the social security system that has no money saved up for them, and a federal government that seems to not want to balance its own budget.

    I’m not asking this question to be difficult or obnoxious, I’m just honestly looking for your opinion to the question, do you think the federal government will end up actually taxing this money anyway because they need more tax revenue in the future?

  • busywifebusylife
    Posted November 24, 2014 at 12:35 pm

    Thanks Matt for the question. I do understand that our government has the propensity to mismanage budgets on a quite regular basis, especially with regards to retirement funding. But unlike most other retirement plans, the key part of the Roth IRA is the government as already taxed the contributions from your paycheck. All contributions you make to the account are post-tax contributions. The only way the government would be able to make more money from this type of retirement tool is to raise the income tax, which would affect more than just your Roth IRA. I think it is a safe bet that things will continue as the way it was established.

    Let me know if you have any other thoughts or comments!

  • Aja @Principles of Increase
    Posted April 30, 2017 at 4:31 pm

    This is a good post. I have an IRA that I’ve let sit around for a while. I need to get back to contributing. Thanks for the breakdown!

    • Post Author
      Sherita Rankins
      Posted May 12, 2017 at 11:04 am

      Great – Aja! So glad you enjoyed the post. I think so many of us forget about retirement or don’t make it a priority, happy saving!

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