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Released: September 12, 2010
A ‘Roth mulligan’ just might be worth a shot
Source: Michelle Singletary, Washington Post (Free Registration)
If you have a high income, you’ve probably been particularly frustrated that your earnings level meant you couldn’t put money in a Roth IRA, which has some fabulous perks.
Go to any retirement savings seminar and you’ll find that a Roth individual retirement account is all the rage because, unlike a traditional retirement account, there is no minimum withdrawal requirement at age 70 1/2 . And best of all, because Roth IRA contributions are taxed going in, withdrawals are not taxed coming out (as long as you meet certain holding requirements).
Read Full Article: A ‘Roth mulligan’ just might be worth a shot
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