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Open A Roth IRA And Start Saving Now

06th July 2011
By Casey Trillbar in Taxes
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Opening a Roth IRA retirement account can help you have the extra money you will need to survive retirement without suffering financial difficulty or needing to work to supplement your social security check. If you think about how much you are going to need in order to cover your expenses every month and multiply that by the number of years you will be finished working, it is easy to see how expensive it is. The importance of saving now can not be underscored enough, and a Roth IRA can be a fine tool to use in order to reach your investment goals.

Retirement is something that is nothing but a distant dream for young workers, but they need to understand the importance of putting at least a small percentage of their weekly compensation aside for the future. Otherwise, they are destined to be broke and suffering tremendous economic hardship once they are too old, too sick or too tired of working for a living. A Roth IRA makes it easy and affordable, and you don't need a lot of money to get started.

In fact, even if you have no money down, many companies will open a Roth IRA account for you provided that you agree to fund it with regular monthly payments. While the program sets annual contribution limits to $5000.00 if you are single and under 60 years old, even if you can only put a couple hundred dollars into your account now, it will substantially increase your wealth when you retire. It may be hard to save in the beginning, but after a couple of months, you will hardly miss your money and achieve the peace of mind knowing that you are providing for your future.

A Roth IRA is perfect for small investors who do not have a lot of extra money to stash away for decades, and many average working Americans are saving more than ever since this program was rolled out about 15 years ago. In fact, there few serious restrictions to worry about that and this method is quickly becoming the preferred investment tool for hourly as well as middle class working individuals. However, working is the operative word to consider because only taxable earned income is allowed to be used to fund the account.

There are a number of minute details that need to be considered before investing, and getting expert financial advice is essential to any retirement investment plan. But, all in all, the Roth IRA is one of the simplest, friendliest and easy to fund accounts ever created and has made planning for the financial future of millions of Americans within reach and easy to accomplish. The sooner you start investing, the more money you will have to adequately fund your retirement, so start thinking about your future now and consider how well a Roth IRA account can help. Avoid the pinch of having to work past your ideal retirement age and enjoy the benefits of enjoying your senior years in peace and relaxation.


Casey Trillbar is the editor of, which is a website
aimed at supplying articles, information and resources to people
considering the use of a Roth IRA Agreement for their retirement.
This article is free for republishing
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