Roth IRA Facts

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Roth IRAs are ways for individuals to pay taxes first and then take out money for retirement that is needed in a tax-free basis. Work with a financial adviser or a qualified plan specialist on a Roth IRA with help from a registered financial consultant in this free video on investments and personal finance.

Part of the Video Series: Beginner Investing
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This is financial adviser Patrick Munro talking about Roth IRA facts. Basically Roth IRAs are a very excellent way for an individual to get involved in retirement planning. The best way to get your Roth IRA facts is to go to irs.gov and get all the latest updated information on this year's tax situation. Roth's are a way for an individual to pay taxes first and then take dollars out later in life when they're needed in a tax free basis. They become more favorable for those that are tax conscious than a traditional IRA which involved the paying of taxes later in life through an IRA as a result of required minimum distributions. Knowledge is power though, you have to make sure the difference is known between traditional and Roth and which route is best for you. And the way to do that is to work with a financial adviser that is a qualified plan specialist because these are qualified plans and they can tell you the benefits of both the Roth and the traditional. This is Patrick Munro, financial adviser talking about Roth IRA facts.

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