Enlisting the help of a qualified wealth management professional to determine which type of IRA will best support a person’s retirement goals.

So you want an IRA, but you aren’t sure if you need a traditional one or a Roth. How do you decide? Let’s explore the Roth IRA a bit further to help your decision.

In a recent Digital Journal article, titled “To Roth or not to Roth your IRA? Atlantic Trust explains the benefits, considerations, Roth IRAs are described as attractive for a number of reasons.

Unlike a traditional IRA, the funds withdrawn from a Roth account are not taxed (with some exceptions) and also have fewer restrictions regarding how and when those funds can be withdrawn. Another nice Roth feature is that there are no required minimum distributions, depending on how and when the Roth account was set up.

A Roth IRA is also a worthwhile strategy for those who want to increase their assets for the benefit of their children. How? Roth’s are not subject to the same income taxes at the death of the IRA creator as is a traditional account. Accordingly, if you think you’ll be in a higher tax bracket when you retire and can recoup the money you paid in taxes when creating a Roth, you might come out ahead in the long run.

Predicting future tax rates is pretty much a guess, especially when talking about individuals who have years to go until they retire. As a result, experts feel that Roth IRAs are more attractive for individuals in their 20’s and 30’s with many years of future growth.

Speak to your estate planning attorney to get a better understanding of Roth IRAs and other investment tools.

Do You Need To Speak With An Attorney About Estate Planning?

If you need to speak with an experienced estate planning lawyer please contact us online or call us directly at 800.756.5596 to first register for one of our free, informative seminars. Your attendance will qualify you for a special discount for our estate planning services should you decide to make a free appointment at the conclusion of the seminar and choose to proceed with us. We proudly serve clients throughout California with offices in Torrance, Newport Beach, Orange, Woodland Hills and Pasadena.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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