Roth IRA Tax Protection!
If taxes are going to raise and especially on dividends from stocks, is the venerable Roth IRA the only protection that we as middle income/class folks have against getting gouged by the (T)ax man?
What if you are relying on a dividend or some other type of income stream in the future, and all of a sudden you retire and instantly the tax rates double? Or maybe the tax rates rise slowly over time to a point where you can never really live on a money steam without the fear of running out of money before you die, so you work forever?
Is that really any way to live? I dread having to worry about my money so much, isn’t there enough in live to worry about already?
But even if they tax rates jump to a ludicrous combined total percentage (let’s pretend 90% for everybody), in a Roth IRA, you are for the most part safe against taxes! You are safe because even if the tax rate increase to such an unbelievably high level, when you pull your money out of your Roth IRA, its tax-free! And that makes all the difference when it comes to retiring comfortably and living with less stress!
Actually, in the finance world, a Roth IRA is some what of a superhero versus the run of the mill retirement instructions out in the market place. The extra benefits of owning a Roth IRA makes it a financial instrument that everybody should consider! Read my previous articles why I consider the Roth IRA to be such a superior product in my previous article titled: Roth IRA Unusual Benefits.
With the debt and overspending happening in the United States, it’s inedible that eventually taxes will get raised, and perhaps to a very high rate to boot. So while you might not sole reply on a Roth IRA for your future, perhaps it would be a wise choice to diversify your retirement paths and start or if you already have one, channel more of your hard-earned money into such a superb financial device?