10 Reasons to Open a Roth IRA

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Wall Street should be moved to the Atlantic City Broadwalk. The new Bob & Carol & Ted & Alice is Wall Street & Banks & Politicans & Mafias (all kinds).

Kathryn McKenna of NJ 11:52AM August 17, 2011

What does being "young" have to do with it? Shouldn't only your income matter? If I am young and have high taxes, then there is no point.

bob of CA 3:48AM February 17, 2011

Hi,
please ,you explain for me ,if I withdrawn my money from my account 401 k now
,Iwant to know how much money I pay the tax ,now I am 65 years old.
Thanhk alot

Be van Nguyen of MA 11:50AM November 06, 2010

I don't think that many American's after being swindled by the banking and financial industries are all that excited about running out and opening up IRAs only to have their profits and possibly some of their principals confiscated via a down turn in the economy, as what has happened over the past few years...
Trillions of dollars evaporated over night and all my advisor said was to keep paying into my IRA and to stay the course...
I have to pay him a percentage of my total portfolio to earn me less than I could do myself. I've managed a better return than what I pay those guys to do.
Either way, the fact is, most American's are either not working or are under-employed. With what was once the middle-class now getting moved into the lower middle-class there are very few dollars leftover from each paycheck to invest for retirement.
All the talk about Roth's might just be an attempt by our corrupt politicians / government to get the masses to forgo the tax deduction during their working years. Unless you earn more in retirement than in your peak earning years you're not going to pay as much tax as you do while you're earning at your peak.
Thereby negating any need for a Roth IRA...
After-all how many middle or lower middle class Americans actually make more in retirement than they do in their working years.

Robert of RI 11:33PM October 13, 2010

That's a lot of good info! I'll get one for both myself and my spouse. Although we're not young, better late than never. Now I'll just need to decide on whether to set up online or locally.

Henry of CA 1:51AM October 07, 2010

Hi Henry - If you withdraw contributions from a Roth IRA (including any net earnings on the contributions) by the due date of your return for the year in which you made the contribution, the contributions are treated as if you never made them.

Emily Brandon of CA 11:22PM October 06, 2010