Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Internet Search
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
General Discussions
The Watercooler
SS question
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="keista" data-source="post: 537522" data-attributes="member: 11965"><p>That's very shortsighted thinking. The other benefit to the Roth is that you can withdraw deposits at any time since you've already paid taxes on it. For example you deposit $10. After five years it doubles to $20 (dreaming, I know) You can withdraw the original $10 without penalty and leave that interest in there to keep growing tax free. However, if you are on the line between tax brackets it may be beneficial to be in a regular IRA to reduce income to the lower tax bracket.</p><p></p><p>Supporting the minor has it's own tax benefits. If you're paying for his college as well you get more deductions there.</p></blockquote><p></p>
[QUOTE="keista, post: 537522, member: 11965"] That's very shortsighted thinking. The other benefit to the Roth is that you can withdraw deposits at any time since you've already paid taxes on it. For example you deposit $10. After five years it doubles to $20 (dreaming, I know) You can withdraw the original $10 without penalty and leave that interest in there to keep growing tax free. However, if you are on the line between tax brackets it may be beneficial to be in a regular IRA to reduce income to the lower tax bracket. Supporting the minor has it's own tax benefits. If you're paying for his college as well you get more deductions there. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
General Discussions
The Watercooler
SS question
Top