Timothy Sumer

#schoolofpersonalfinance #rothira #personalfinance #savemore #financialfreedom #financialeducation I love my Roth IRA. This video is about all the reason you should be using a Roth IRA to save more money for retirement. Roth IRA's are funded using after-tax dollars meaning you do not get a tax deduction when you make the contribution. Instead, you get the benefit of completely tax-free withdrawals in retirement. There are some rules that are specific to the Roth that need to be followed for the withdrawals to be tax-free. A Roth IRA can be a great option if you have taxable earned income, you are in a low tax bracket and you are under the income limitations. You can open a Roth IRA at all the same institutions as the traditional. A big difference with a Roth is that you can withdraw your contributions at any time without taxes or penalties. This is a very nice feature. For example, if you have contributed $20,000 over the last 4 years and the account value has grown t