One Downside of a Roth IRA

I’m starting with a disclaimer here.  We could debate for hours the pros and cons of a Roth IRA; Heck, Lanny has written about both sides of the Roth vs. Traditional argument already…first about maximizing your Roth IRA contributions for 10 years and then writing about his plan to use a Traditional IRA going forward during the summer.  What am I proving here?  There is not a one size fits all approach and using a Roth or a Traditional account may (and should) change as your financial situation changes.   This last week I experienced one of the downsides of a Roth IRA and I wanted to share it with all of you.

Roth IRA

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Strategy Adjustment – Taxes… (Series, Part 3)

Welcome back!  After the first two posts, I can see now the heat coming from the articles and the insight that individuals are also providing through their comments.  We all want to save on taxes, reduce the liability, invest more money and keep more of that money, which we earn through our sources of income.  Here we are… Part 3 to reduce taxes and invest MORE.  This is possible everyone, VERY possible.  The first portion of my strategy was to maximize my 401(k) with my employer, which will result, in this first year, a savings of OVER $5,000 and the second portion of the strategy led to tax savings of over $1,000 MORE!  However, as you guessed it, it does NOT end there.

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Strategy Adjustment – Taxes… (Series, Part 1)

Very strange article title, isn’t it?  To begin, I love dividend stocks to invest in.  I love the pursuit to financial freedom and to be completely independent in the decision of what to do with my time.  As with that time – happiness is what truly matters, and making a difference in others lives.  I want to do that, NOW, Tomorrow, the next day and so on.  I want to be able to spend as much time with friends and family as I see fit in my life and to help others that are in need.  In doing some “deep-thinking” on how to further expedite this, maximize my money, which buys time, I have changed a strategy of mine.  The target?  Taxes.

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