There may never be a better time to open a #Roth account. Roth #IRAs offer tax-free earnings growth, and as Kimberly Wells, owner @youngwealthmanagement explains to Erin Kennedy, there are 4 clear-cut reasons you should consider investing in a Roth today:
1. Today's Historically Low Tax Rate: the Tax Cuts and Jobs Act, which reduced federal income tax rates, is set to sunset in 2025
2. Your Depreciated Portfolio: pay taxes on a smaller value now, then allow that future growth to happen tax free
3. Possible Elimination of Backdoor Roths: the Build Back Better Act proposed ending Backdoor Roths; the loophole dodged the axe... for now.
4. Legacy Planning: following the #SECURE Act, most second generation beneficiaries have only a 10-year window to distribute IRA assets, leaving them with quite the tax burden, whereas Roth accounts can be passed on to heirs tax-free
If you'd like to speak with Kimberly about opening a Roth account, or if you'd like to learn how to convert your traditional IRA to a Roth IRA, please reach out by calling 614-430-8383 or by visiting www.Young-WM.com
#TaxFree #TaxDiversification #WealthManagement #Retirement
