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Summary: IRA retirement accounts are set up by the Internal Revenue Service for the purpose of growing invested money in a qualified tax plan. Discover the money making power of retirement accounts such as IRAs with tips and advice from an experienced financial adviser in this free video.
Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more
"This is Patrick Munro, Financial Advisor, and I'm asking the question today, "Do my ROTH contributions count if I have a retirement plan at work"? Many of my clients will ask me that, and the more retirement plans you can possibly have, the better. Many people do have a retirement plan at work which is non-voluntary, meaning they didn't have any say in how it was set up, but, nevertheless the employer is matching the contributions that you are payroll deducted, so you take that. But you can also set up your own independent ROTH plan whereby the taxes are paid ahead of time. The more the better, I always say. If you have the money, by all means put that in there and make sure that you don't put in too much money into a retirement plan to, well, not have much of a lifestyle. You don't want to be IRA poor, you want to be remember that you have to enjoy your life going forward. But by all means if you have an IRA plan at work you can also set up an independent ROTH plan as well. So this is Patrick Munro talking about that issue, "Do my ROTH's count if I have an IRA plan at work"?"
eHow Article: ROTH IRA Retirement Tips
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