Difference between revisions of "Roth IRA"

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An '''Roth individual retirement arrangement''' ('''Roth IRA''') is a personal savings plan which allows one to [[investment|invest]] or set aside [[money]] for [[retirement]], while offering [[deferred tax]] / [[tax]] advantages. <ref>http://www.irs.gov/taxtopics/tc451.html</ref>
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#REDIRECT[[Individual retirement account]]
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The Roth retirement plan under US [[law]] that is generally not taxed, as long as certain conditions are met. The US tax law allows reduction in tax on a limited amount of [[saving]] for retirement. Roth IRA's main difference from the majority of tax advantaged retirement plans is that, instead of granting a [[tax break]] for money placed into the plan, the tax break is granted on the money withdrawn from the plan during retirement.
 
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"A Roth IRA is setup and funded by an individual; however, some employer/group plans can have Roth accounts.  A Roth is unique in that it is funded with after-[[tax]] [[dollar]]s, meaning the individual does not deduct the contribution from that year’s [[income tax]]es.  He or she pays income taxes on the dollars earned and then contributes to the Roth.  The benefit of this account type is that the distributions at retirement age are 100% tax-free. No income tax is claimed from the distribution."<ref>http://survivalblog.com/guest-post-self-directing-your-retirement-sheltering-the-fruits-of-your-labor-by-will-lehr Accessed December 8, 2014</ref>
 
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Roth IRAs can be contain [[investment]]s in [[securities]], most often [[common stock]]s and [[Bond|bonds]], typically through [[mutual fund]]s. Roth IRAs also, less commonly, allow other investments, including [[real estate]], [[derivative]]s, notes, [[certificates of deposit]], and  are possible). Roth IRAs also allow [[annuity|annuities]] bought from a [[life insurance]] company.
 
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== See Also ==
 
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*[[Self-directed IRA]] and [[IRA]], [[401(k)]], Roth IRA, [[403(b)]], [[Retirement]], [[Social security]]
 
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*[[Stock]]s and [[Bond]]s
 
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*[[Stock market]]
 
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*[[Savings account]] - [[Savings]]
 
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*[[Inflation]] versus [[Interest rate]]s / [[Rate of return]]
 
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'''Contrast with:'''
 
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*[[Gold standard]] and [[precious metal]]s
 
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*[[Invest in tangibles]] - [[Rural]] [[farm]] [[land]], [[Tools]], [[Food storage]], [[Precious Metals]]
 
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*[[Agriculture]]-[[Permaculture]]: [[Growing your own food]], [[Food and water storage]]
 
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==Further Reading==
 
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* {{Cite book
 
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|last=Bledsoe |first=John D.
 
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|title=Roth to Riches: The Ordinary to Roth IRA handbook
 
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|year=1998
 
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|publisher=Legacy Press
 
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|location=Dallas, TX
 
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|isbn=0-9629114-1-0
 
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|oclc=40158081}}
 
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* {{Cite book
 
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|last=Daryanani |first=Gobind
 
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|title= Roth IRA Book: An Investor's Guide: Including a Personal Interview with Senator William V. Roth, Jr. (R-De), Chairman, U.S. Senate Finance Committee
 
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|year=1998
 
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|publisher=Digiqual Inc.
 
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|location=Bernardsville, NJ
 
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|isbn=0-9665398-1-8
 
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|oclc=40340829}}
 
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* {{Cite book
 
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|last=Merritt |first=Steve
 
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|title=All about the New IRA, Roth, Traditional, Educational: How to Cash in on the New Tax Law Changes
 
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|year=1998
 
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|publisher=Halyard Press
 
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|location=Melbourne, FL
 
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|isbn=1-887063-07-2
 
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|oclc=39363078}}
 
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* {{Cite book
 
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|last=Slesnick |first=Twila
 
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|author2=Suttle, John C.
 
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  |title=IRAs, 401(k)s, & Other Retirement Plans: Taking Your Money Out
 
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|year=2007  |edition=8th
 
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|publisher=Nolo
 
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|location=Berkeley, CA
 
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|isbn=978-1-4133-0696-5
 
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|oclc=85162294}}
 
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* {{Cite book
 
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|last=Thomas|first=Kaye A.
 
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|title=Fairmark Guide to the Roth IRA:  Retirement Planning in Plain Language
 
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|year=2004
 
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|publisher=[[Fairmark Press, Inc.]]
 
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|location=Lisle, IL
 
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|isbn=0-9674981-0-4
 
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|oclc=55048948}}
 
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* {{Cite book
 
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|last=Trock |first=Gary R.
 
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|title= The Roth IRA Made Simple
 
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|year=1998
 
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|publisher=Conquest Pub.
 
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|location=Grifith, IN
 
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|isbn=0-9666227-0-7
 
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|oclc=40641031}}
 
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==External Links==
 
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* [http://www.irs.gov/pub/irs-pdf/p590.pdf IRS Publication 590 (IRAs)] (pdf)
 
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* [http://www.irs.gov/publications/p590/ch02.html IRS ROTH IRA Publication 590]
 
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* http://survivalblog.com/letter-re-self-directed-ira/
 
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* http://survivalblog.com/guest-post-self-directing-your-retirement-sheltering-the-fruits-of-your-labor-by-will-lehr/
 
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* http://survivalblog.com/letter-re-self-directed-ira-article/
 
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* [http://www.forbes.com/forbes/2010/0607/investing-roth-ira-conversion-fidelity-tax-rothify-401k.html Rothify Your 401(k)] Forbes.com
 
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* {{Cite news
 
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| url = http://www.boston.com/business/personalfinance/articles/2010/02/13/traditional_to_roth_ira_conversions_dont_be_tripped_up_by_tax_implications/
 
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| title = Traditional to Roth IRA conversions: Don’t be tripped up by tax implications
 
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| author = Humberto Cruz
 
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| newspaper = [[The Boston Globe]]
 
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| date = February 13, 2010
 
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}}
 
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==References==
 
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{{reflist|2}}
 
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{{DEFAULTSORT:Roth Ira}}
 
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{{Template:Economic preparedness topics}}
 
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[[Category : Economic Preparedness]]
 
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[[Category:Individual Retirement Accounts]]
 
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[[Category:Retirement]]
 
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[[Category:Investments]]
 
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[[Category:Economics]]
 
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[[Category:Real Estate]]
 
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[[Category:Finance]]
 
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[[Category:Real Estate]]
 
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[[Category:Banks]]
 
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[[Category:Finance]]
 
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[[Category:Economics]]
 

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