Ok, most likely you don't fully understand the benefits and you'd rather spend your money on other things you feel are more important today. Well hopefully a recent article that I had published on Seeking Alpha will change your mind... Read On
Wednesday, October 12, 2011
Roth IRA + Dividend Stocks = Awesome!
How many of you are aware of what a Roth IRA is all about? How many of you are actively investing and maxing out your Roth IRA? My guess is very, very few... and if that is the case well, pardon me, but you're crazy! Perhaps you think taxes won't be as high when you retire as they are now (ha!). Maybe you enjoy paying taxes and feel the government will spend your tax dollars efficiently and intelligently (Commie!).
Posted by Dividends Paid at 2:20 PM
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Seems like everyone I talk to is 'disqualified' from contributing to a Roth IRA because they make "too much money", though.ReplyDelete
The income limits are a pain. This is why I stress taking advantage of a Roth when you are young. You get the time factor and you usually don't have the problem of "making to much money" when you are younger.ReplyDelete
A workaround for those who make too much is to contribute after tax money into a traditional IRA (no income limits when you do this) and then convert that to a Roth IRA. Current IRS rules allow you to do this, but it may not last much longer.
That's a good point - and one I stress for younger relatives and friends. Even 'babysitting' money adds up - especially if you're investing in dividend stocks! ;-)ReplyDelete