Tag Archives: Roth IRA

Thoughts on Inherited Money:

First, let me say I’m sorry for your loss. As someone who’s recently been through a death in the family I know how devastating it can be. During this time you may come into some money, but it is not a time you should be making financial decisions. Most experts agree – take your time before spending any inheritance. Make sure that you take all the necessary steps – canceling any social security, turning off the phone, (if you are responsible) and then take a step back. The amount of money you’ve come into doesn’t matter – it could be … Continue reading →

Roth IRA: Overview

In 1997 the Taxpayer Relief Act was passed and The Roth Individual Retirement Account (Roth IRA) was created and named in honor of the late Senator William V. Roth, Jr. Roth IRAs are Individual Retirement Accounts opened and managed through a stockbroker, mutual fund, or other provider of investment accounts. A Roth IRA offers an opportunity to invest earnings and avoid taxation. The disadvantage is that taxpayers cannot take a deduction for contributions to the Roth IRA. Some of the Key Points with a Roth IRA include: A tax structure unlike other IRAs: contributions are post-tax, but growth is tax-free; … Continue reading →